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FOMC removal of "gradual increases"......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: FOMC removal of "gradual increases" and "risks roughly balanced"
while holding FFR rate at 2.25% to 2.50% on 10-0 vote, adding that it can remain
patient due "muted inflation" and watching financial developments, economic
developments which emphasized data dependence saw the USD come under general
react pressure as rate broke lower from around Y109.55, through earlier support
at Y109.50 to Y109.31. Market looks to have been fairly well positioned for this
outcome with USD demand seen taking advantage of the dip. Next support seen into
Y109.20 ahead of Y109.00. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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