The Japanese Yen (JPY) remains under pressure against the US Dollar (USD) on Wednesday, with USD/JPY consolidating gains after the Federal Reserve’s (Fed) monetary policy announcement. At the time of writing, the pair is trading around 153.92, up nearly 1% on the day. The Fed left its benchmark interest rate unchanged at the 3.50%-3.75% range, in line with market expectations. Policymakers acknowledged that inflation remains somewhat elevated and stressed that uncertainty around the economic outlook remains high, reiterating that the Committee is attentive to risks on both sides of its dual mandate. The US Dollar remains supported, with the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, trading around 96.70, rebounding after slipping to four-year lows.