Robert J. Williams 
Asian currencies traded mixed on Tuesday, 27 October, as the US dollar held near recent highs ahead of the Federal Reserve’s policy decision, which concludes on Wednesday. USD/JPY rose 0.13% to 157.70 as the yen gave back part of last week’s gains, according to Investing.com, while the Indonesian rupiah stayed close to record lows.
What moved in Asian currency markets on 27 October?
The dollar index stood at 102.05, up 0.09%, in Asian trading on Tuesday, per Investing.com data. Moves across the region were small and went in different directions, which is what “mixed” looked like in practice.
| Pair | Level | Change |
|---|---|---|
| USD/JPY | 157.70 | +0.13% |
| USD/IDR | 18,129.1 | +0.19% |
| USD/INR | 95.353 | +0.2% |
| USD/SGD | 1.2809 | +0.04% |
| USD/CNY | 6.6683 | -0.03% |
| USD/KRW | 1,324.36 | -0.1% |
| AUD/USD | 0.7025 | +0.1% |
| NZD/USD | 0.5695 | +0.3% |
Source: Investing.com, Asian session, 27 October 2026. USD/PHP rose 0.11%; USD/CNH was near 6.6678.
The yuan was the quiet one. Onshore USD/CNY slipped 0.03% and the offshore rate sat close to the same level. The won gained 0.1% against the dollar.
Why did the yen retreat?
The yen weakened after a week of gains that Investing.com tied to concerns over AI stocks. Those safe-haven flows faded on Tuesday, and USD/JPY moved back up to 157.70.
The Bank of Japan (BOJ) is expected to keep its policy rate at 1.25% at its meeting later this week, the same report said. A hold would leave Japanese policy unchanged going into the Fed outcome, so the dollar side of USD/JPY carries the near-term risk.
How is the Indonesian rupiah holding up?
Badly. USD/IDR gained 0.19% to 18,129.1, keeping the rupiah near its record low.
Investing.com cited three pressures behind the foreign outflows: elevated global bond yields, higher oil prices, and concern that Indonesia could lose its emerging-market classification under MSCI. Bank Indonesia said last week it would make the necessary adjustments to its policy tools to maintain rupiah stability. It kept its benchmark rate at 5.75% and raised the deposit facility rate to 5.00%.
The Indian rupee also weakened, with USD/INR up 0.2% to 95.353.
What is the Fed decision and who else reports this week?
The Federal Reserve’s meeting ends Wednesday. The source report did not state the current federal funds rate or a consensus forecast, so this article does not either. Four other major central banks also announce policy this week, per Investing.com, in addition to the BOJ call expected by Friday.
Elsewhere, EUR/USD traded at 1.1172, down 0.02%, and GBP/USD was unchanged at 1.3342.
Analyst Take
Asia’s currencies rarely move as one bloc before a Fed meeting. Tuesday showed why. The yen and rupee reacted to local pressures, while the yuan and won barely moved.
Rupiah weakness is the item to watch. USD/IDR is trading near a record even after Bank Indonesia adjusted its deposit facility rate, and the MSCI classification question is a separate risk that a policy rate does not address. A firmer dollar after Wednesday would test that stance again.
For yen traders, the move back to 157.70 shows how quickly last week’s safe-haven bid faded. Wednesday’s Fed outcome and the BOJ’s decision will set the next leg.
This article is for information only and is not financial advice. Trading currencies carries a high risk of loss.
Source: Investing.com, “Asian currencies mixed as dollar holds firm, yen retreats ahead of Fed decision,” 27 October 2026.
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