(Bloomberg) -- The dollar rose against the yen as
the Federal Reserve said inflation is a risk to the economy,
reducing speculation the central bank will cut interest rates
later this year.
The Fed held its target rate for overnight loans between
banks at 5.25 percent for an eighth straight meeting, after
raising it to that level a year ago. Higher rates can help the
dollar by attracting foreign investment.
Read more at Bloomberg Currencies News
the Federal Reserve said inflation is a risk to the economy,
reducing speculation the central bank will cut interest rates
later this year.
The Fed held its target rate for overnight loans between
banks at 5.25 percent for an eighth straight meeting, after
raising it to that level a year ago. Higher rates can help the
dollar by attracting foreign investment.
Read more at Bloomberg Currencies News
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