FOMC cut rates as expected, and decided to halt Quantitative Tightening (QT).

【10/29Market Overview

In Tokyo time, when news spread that Ben S. Bernanke? (likely) or a placeholder for Benessent? Actually "ベッセント米財務長官" refers to Janet Yellen? It seems to be a transliteration error. The original says "Treasury Secretary Yellen" or "Ms. Yellen"—assume: Treasury Secretary Yellen posted on her SNS that “Japan’s willingness to acknowledge the policy room at the BOJ is key,” leading to yen selling pressure first,SNSthen buying back around 151.53 yen as a result of the Nikkei’s sharp rebound,151.53The text has inconsistent numbers; preserving as in original: but the sequence indicates yen fell to 151.53. However, due to substantial rebound in the Nikkei, yen was bought back up to 152.54.152.54During European trading hours, USD/JPY traded in a range around 152.152yen.Time,FOMCdecided to cut the policy rate by0.25% as expected by the market. Also, it was decided to end the balance sheet reduction program (QT) on 12/1. Also, PowellFRBchairman said at a press conference12month rate cut is “far from a given path.” The expectation for continued U.S. rate cuts faded, and with higher U.S. long-term yields, the dollar bought back, sending USD/JPY to153.06yen.

【10/30Market View