Currencies tumble, few attempt rebound

THE DOLLAR SLIPPED on Thursday, a day after surging to a two-year peak after the Federal Reserve rocked markets by signalling a much slower pace of rate cuts in 2025, while the yen slid after the Bank of Japan (BOJ) stood pat on rates.

- HARRY ROBERTSON, RAE WEE & VIDYA RANGANATHAN

Currencies around the world tumbled on Wednesday after the Fed decision boosted the dollar, although many rebounded on Thursday in choppy trading conditions with thin volumes ahead of the holiday period.

The BOJ kept interest rates steady as expected, but the yen fell sharply as governor Kazuo Ueda gave little away in a post-meeting press conference.