Dollar-Yen slips slightly for the first time in four days after the FOMC keeps rates unchanged.

【10/28Market Overview

In Tokyo time, the USD/JPY rose in the morning to158.04yen, but there were reports of Finance Minister Katayama signaling a watchful stance on currency market movements with high tension, and10/29early in the morning, expectations were restrained ahead of the upcomingFOMCmeeting results, keeping gains in check. On the other hand, with the U.S.10year yield staying at high levels, the downside was also limited. In European time, the USD/JPY fell to157.65yen, but buying interest soon returned. In New York time, as U.S.10year yields rose and Middle East tensions added uncertainty to oil prices, the USD/JPY rose to158.34yen. TheFederal Reserve(Fed)decided at theFOMCto keep the target range for the federal funds rate at10basis points2to ];2—4.00%to hold at 3.75–4.00%. Chair Powell said in a press conference after the FOMC meeting that inflation remains too high and the financial conditions are tightening, but not to the point of being described as 'tight' yet, leaving scope for a rate hike later this year. Following these remarks, the USD/JPY fell to around157.76yen.2—4.00%157.76yen.

【10/29Market View