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Tuesday, December 13, 2016

Dollar Steadies Against Yen As Federal Reserve Board Meets

The U.S. dollar steadied at around ¥115 in Tokyo as investors braced themselves over the outcome of today's policy meeting of the Federal Reserve Board.

According to the Asahi Shimbun:
The dollar steadied against the yen and euro on Tuesday as a surge in Treasury yields was tempered and as the market braced for the outcome of the U.S. Federal Reserve's policy meeting starting later in the day. 
The euro was little changed at $1.0629. The common currency had gained 0.7 percent overnight, helped by higher German bund yields and on relief as Rome was seen ready bail out Italian bank Monte dei Paschi di Siena. 
The dollar was nearly flat at 115.140 yen. 
It climbed overnight to as far as 116.120, its highest since early February as the benchmark 10-year Treasury yield popped above the 2.5 percent threshold on a surge by oil prices to a level unseen since September 2014. The greenback, however, retraced its gains as Treasury yields ended Thursday significantly below their peaks.
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