[放炮] Dollar up against yen on prospect of further taper

aimei

The dollar rose against the yen on Tuesday as a lack of major economic data scheduled for release turned the focus to potential action at the next Federal Reserve meeting

The Fed is likely to reduce its monthly bond purchases, part of its efforts to stimulate the economy, to $65 billion at the end of its two-day meeting on Jan. 29, according to The Wall Street Journal’s Jon Hilsenrath. The first $10 billion reduction was announced at the central bank’s December meeting after it determined the economy was strong enough to withstand less stimulus.

The employment report for December, which showed the economy added many fewer jobs than expected, had cast some doubt over the Fed’s plans for scaling back on its bond purchases.