A woman walks her dog strolling past monitors showing Japan's foreign exchange rate against the U.S. dollar and other foreign currencies at a securities firm in Tokyo, Thursday, June 13, 2024. – Global shares were trading mixed on Thursday after the Federal Reserve opted to keep its benchmark interest rate unchanged.
In Asia, investors were turning their attention to a meeting of Japan's central bank that ends on Friday. The Bank of Japan is not expected to raise its benchmark rate this time, though the economy is under pressure from the dollar's prolonged surge against the Japanese yen. In currency trading, the U.S. dollar edged up to 157.29 Japanese yen from 156.71 yen. The euro fell to $1.0809 from $1.0812.
As expected, the Federal Reserve kept its main interest rate steady on Wednesday following its latest policy meeting. And Treasury yields dropped after ashowed U.S. consumers paid prices that were 3.3% higher for food, insurance and everything else last month from a year earlier. Economists had been expecting to see the inflation rate stuck at 3.4%.
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