Yen recovers as Dollar rally pauses after Fed decision

The Japanese yen hovered near 152.9 per dollar on Thursday after suffering a sharp decline in the previous session, as the US dollar regained strength following Treasury Secretary Scott Bessents reaffirmation of Washingtons strong-dollar policy and dismissal of intervention speculation. The greenback remained supported after the Federal Reserve held interest rates steady, signalling patience amid persistent inflation and resilient growth. Meanwhile, caution prevails in Tokyo over potential unilateral action, with political uncertainty ahead of the February 8 snap election adding further pressure on the yen.

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