Greenback drops to four-week minimum against yen
On Thursday, the evergreen buck stumbled to a near 4-week minimum against the Japanese yen, after the Fed decided to leave its monetary policy intact and projected a less aggressive path for interest rates lifts in coming years.
While the major US financial institution strongly indicated that it could proceed with tightening its monetary policy by the end of 2016, policy makers dropped the overall number of rate surges they expect this year to one from two. Besides this, they also forecast a less aggressive surge in interest rates in 2017 and 2018.
The euro grew 0.2% to $1.1202 , having drifted away from Wednesday's tumble to $1.1123.
Financial analysts are assured that the greenback could fall further against the Japanese yen in the next few months. The given view is supported by a resilient yen. It’s also underpinned by doubts over whether the BOJ’s policy overhaul will happen to be enough to spur inflation or not.