Yen pulls back from 2-month high as dollar strengthens

The yen weakened past 147.2 per dollar on Thursday, pulling back from a two-month high after the US Federal Reserves latest policy move boosted the greenback. The Fed delivered a quarter-point rate cut as expected but signaled just one reduction in 2026, tempering bets on a deeper easing cycle. Meanwhile, the Bank of Japan began its two-day policy meeting, with markets expecting rates to remain unchanged as officials weigh the potential hit from US tariffs on Japans export-driven economy.

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