Nevertheless, the Federal Reserve kept its commitment to raise interest rates to reduce inflation.
“There may be a little bit of hope in the minutes that officials are basically weighing the risk of going too aggressively or going too high on the hikes,” said Juan Perez, director of operations at Monex USA in Washington. “That’s not the number one concern right now. The number one concern is still inflation.”
Japanese authorities conducted their first yen buying intervention since 1998 on September 22, when the dollar was at 145.90 yen. They have reiterated that they are willing to take appropriate action to counter excessive currency movements, although it is less clear if they want to defend certain levels.
Sterling rose after falling to a two-week low against the dollar and euro the day before, after the Financial Times said the Bank of England has privately signaled to banks that it is willing to prolong its bond purchases.
A report that showed Producer prices in the United States rose more than expected in September, further boosting the dollar against the yen.
After these data, the dollar rose to 146.98 yen, its highest level since August 1998. In its last price, it gained 0.7%, to 146.85 units, which meant a fifth consecutive session of gains.
On the other hand, The euro remained under pressure and was down 0.1% at $0.9696.
Source: Ambito
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