Markets mostly rose Tuesday following advances on Wall Street, while the yen held gains after the previous day's sharp swings and focus turned to the Federal Reserve's upcoming policy decision.
A man looks in the window of a money changer showing the rate of various currencies against the Japan ese yen, along a street in central Tokyo on April 29, 2024.HONG KONG, China — Markets mostly rose Tuesday following advances on Wall Street , while the yen held gains after the previous day's sharp swings and focus turned to the Federal Reserve 's upcoming policy decision.
Traders have been lowering their expectations since the start of 2024 for how many reductions the bank will make as inflation continues to hold above target and various indicators show the economy and labour market remain in rude health. Asian markets were largely higher Tuesday, though profit-taking after a recent run-up pared the morning's healthy gains.
The yen weakened slightly but held much of the previous day's surge that observers speculate came on the back of an intervention by authorities after it hit a fresh 34-year low of 160.17.Traders are on guard for further volatility in the pairing after the Bank of Japan decided against shifting further from its ultra-loose monetary policy last week and gave little idea about when it would.
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