Dollar rises and the yen is under pressure ahead of the Japanese central bank’s interest rate decision

The dollar recorded new highs against some currencies on Thursday, as it remained near its highest levels against the yen since early November, after the US Federal Reserve showed a tendency to tighten after keeping interest rates unchanged.

The dollar index, which measures the currency’s performance against a basket of currencies, rose to 105.68, its highest level since early March, before falling slightly to 105.55.

The Japanese yen was affected by a state of tension after the Federal Reserve meeting, as it hovered around the level of 148.39 against the dollar after touching its lowest level in ten months at 148.47 earlier on Thursday.

There are slim chances that the Bank of Japan will tighten policy at its meeting on Friday.

The pound sterling was last trading at $1.2319, slightly above its lowest level in four months against the dollar, ahead of the Bank of England’s interest rate decision later on Thursday.

The euro recorded $1.0635 after falling to its lowest level in six months at $1.0617.

Both the Australian and New Zealand dollars suffered a blow after the Federal Reserve meeting, as the Australian dollar fell 0.6 percent and the New Zealand dollar fell 0.3 percent.