The delay was longer than anticipated by most market strategists, indicating that Japan will likely continue deficit spending alongside its quantitative easing program for the foreseeable future, said Boris Schlossberg, managing director of currency strategy at BK Asset Management.
The dollar USDJPY, -0.48% bought ¥109.52 late Wednesday in New York, remaining lower against its main rivals after the Federal Reserve’s beige book painted a picture of subdued economic growth in the U.S. By comparison, the U.S. currency was down 1.1% from ¥110.72 late Tuesday in New York.
These fears helped drive the British pound GBPUSD, +0.0624% lower to trade at $1.4408 late Wednesday in New York. That’s compared with $1.4479 late Tuesday.
On other currency trading, the euro EURUSD, +0.2056% strengthened to $1.1188, compared with $1.1131 late Tuesday.
The ICE U.S. Dollar index DXY, -0.19% a measure of the buck’s strength against a basket of rival currencies, was down 0.5% at 95.4430.
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