After comments from Federal Reserve officials, the dollar was generally stable on Wednesday; it is keeping the yen close to its lowest level in 34 years.

The dollar remained stable overall, with the euro at $1.062 in Asian hours, not far from the five and a half month low of $1.06013 it hit on Tuesday. The currency last traded at 106.33, just below the five-month high of 106.51 on Tuesday. Traders now expect cuts of 41 basis points in 2024, which is significantly less than the 160 basis points of easing they had forecast at the start of the year

Furthermore, the yen has remained stuck at levels last seen in 1990, with the currency approaching the level of 155 per dollar that traders fear could lead to intervention by Japanese authorities. The yen last hit 154.65 per dollar on Wednesday, after touching a 34-year low of 154.79 in the previous session