FXstreet.com (Córdoba) - The Dollar strengthened against the Yen after the decision of the FED to leave rates unchanged at historic lows. USD/JPY jumped to 90.02, reaching a fresh intra-day high.
Currently the pair trades at 89.90/95, 0.33% above today's opening price. The Dollar is extending its recovery after falling to a fresh 1-month low at 89.15 during the Asian session.
We need to see the USD/JPY above 90.40 level, to call for an upside continuation here, said Valeria Bednarik at the Live Coverage of the Fed Interest Rate decision at FXstreet.com.
The Yen is also pulling back against European currencies following the Federal Reserve decision.
The FOMC has affirmed its intention to keep interest rates at all-time lows as economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. One member, Thomas Hoenig vote against keeping rates too low for an extended period of time.