Dollar gains in Asia
Investing.com — The dollar gained against the yen on Thursday in Asia after the Fed took a consistent stand on the vegetable knife, their balance sheet and their Outlook for interest rate increases.
USD/JPY exchanged at 112.30, up 0.06%, while AUD/USD traded 0.8034, up to 0.04 percent.
The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted up 0.65% 92.22.
New Zealand-reports in the second quarter of the GDP of 0.8% gain seen month-to-month and a 2.5% annual increase. The Bank of Japan will detail its latest monetary policy views.
The Bank of Japan is expected to reassure markets on Thursday that he has increasing significantly behind its American counterpart in the scaling back in its massive stimulus programs, such as an improvement in the economy, the inflation anywhere in the vicinity of its elusive 2% target.
The Federal Reserve said that it would start to relax the $4.5 trillion U.S. financial crisis-era support from October and held on to the forecast to raise interest rates again this year, hurricane damage, will not derail an otherwise healthy expansion.
«Hurricane Harvey, Irma, and Mary, a lot of communities that have been devastated with a heavy hardness» of the Federal Open Market Committee, inflict said in a statement on Wednesday after a two-day meeting in Washington.
«Storm-related disorders, and conversion will have an impact on the economic activity in the near term, but past experience suggests that the storms, which are unlikely to significantly change the rate of the national economy in the medium term.»
As politicians expected, left the benchmark interest rate unchanged in a range of from 1 percent to 1.25 percent.
«We continue to expect that the enduring strength of the economy gradually increases the rate assure, and sustain a healthy labour market and to stabilize the inflation around the 2 percent longer-run target,» Chair Janet Yellen said at a press conference.
Earlier, the dollar came under pressure after sales of previously owned homes in the U.S. unexpectedly fell in August, as tight supply continued to weigh on housing activity.
Sales of existing homes fell 1.7% in August compared to the previous month, to an annualized pace of 5.35 m and nursing homes, the National Association of Realtors said on Wednesday. Economists had houses a 0.3% expected rise, 5.46 m.