Pedestrians walk past a quotation board displaying a share price of the Tokyo Stock Exchange in Tokyo on January 14, 2022. HONG KONG, China—Most stocks rose Wednesday ahead of an expected pause in the US Federal Reserve’s interest rate campaign, while the yen fell from its 2023 highs after Japan’s top forex official said authorities were “on standby” to intervene.
Elevated bond yields are also seen as acting as a substitute for further tightening, though decision-makers have for some time warned that rates will likely need to be kept high to completely win the battle against surging prices. Hopes the Fed has finished hiking helped Wall Street, with all three main indexes rising for a second straight day.London opened higher, as did Paris and Frankfurt.