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"Unless the Fed takes its foot off the brakes, Japanese policymakers may be face an uphill task of trying to reverse yen weakness," said Vasu Menon, managing director of investment strategy at OCBC. The yen has strengthened nearly eight yen against the dollar since the start of the week, when it first slid past the key 160 per dollar level which some have said could be the line in the sand for authorities. The Fed held interest rates steady at the conclusion of its two-day monetary policy meeting, as expected, and signalled it is still leaning towards eventual rate cuts, even if they may take longer to come than initially expected.