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Yen slips versus dollar while firming against the euro
FOMC minutes pointed to an end of year path for further Fed hikes, with futures pricing an October rate rise at 19.0% and December at 86.0%.
Action Forex reports the yen is weakening versus the US dollar but strengthening against the euro.
The outlet links the dollar's demand to a strong US economy, the appeal of US assets, and the Federal Reserve signaling it intends to continue its rate path.
According to Action Forex, minutes from the September FOMC meeting said a federal funds rate increase would be appropriate toward the end of the year, and markets price a rise in October at 19.0% and in December at 86.0%.
On Japan's side, the same report cites pricing for Bank of Japan hikes at 5.0% for October and 70.0% for December, and says the Fed noted it did not use its own funds to buy yen, acting instead as an agent for the Treasury.