Image: Traders UnionWill USD/JPY hold support after Federal Reserve holds US interest rates steady?
• The USD/JPY exchange rate rose 0.53% to ¥160.39 following the Federal Reserve's decision to keep US interest rates steady. • Japanese authorities intervened in the foreign exchange market by selling US dollars and buying yen to combat the currency's sharp depreciation. • This volatility highlights the ongoing tension between US monetary policy and Japan's efforts to stabilize its currency.
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