Investing.com – The dollar eased slightly against the yen in Asia on Thursday after overnight gains on strong Fed language on policy and as markets await an expected naming of the Fed chief by President Donald Trump.
The Federal Reserve kept U.S. overnight interest rates unchanged and highlighted “solid” economic growth at the conclusion of its two-day policy meeting. Analysts said the Fed’s statement indicated that a rate hike next month is overwhelmingly likely.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted up 0.26% to 94.70.
Australia reports its trade balance for September with a surplus of AUD1.200 billion seen.
Private U.S. employers added 235,000 jobs in October, according to a report released Wednesday by ADP and Moody’s Analytics. That beat economists’ forecast of 200,000.
The Institute for Supply Management’s index posted a reading of 58.7 in October, missing expectations for a reading of 60.
The uptick in the dollar weighed on sterling but losses were capped amid data pointing to a rebound in UK manufacturing growth while expectations that the Bank of England will increase interest rates on Thursday lifted sentiment.