USD/JPY rebounds Fed leaves interest rates on hold and here is why

The US Federal Open Market Committee (FOMC) which is the voting board on Fed monetary policy have just released the outcome of their latest decision. The markets had expected the Fed to remain on hold this evening and that is exactly what they have just done. At the same time, the Fed was expected to leave room for another interest rate increase. Now according to many analysts, this when it comes would be the final hike in a long series of rate increases stretching over the past year and more. Ahead of this, the dollar was tracking lower in anticipation of such an outcome. This was covered in a few updates here a little earlier this evening. As also stated, that price action looked more about a paring back of long dollar positions, as much as it was anything else. The dollar has reacted by rising across the board as the Fed dot plot plan has been raised further out. This has surprised the markets. The USD/JPY has just rebounded close to 148 again on this news