In trading in London the dollar remained solidly defensive despite a relatively dovish policy statement that was released from the US Federal Reserve. A recovery in risk assets such as equities also could have attributed to the dollar's actions in trading. When the Fed raised the US interest rates by a quarter point to 5.25 percent it was what some expect the end of a long string of such raises. While many feel this way others are putting a chance of yet another rate increase at as much as 65 percent. Despite the dollar's defensive posture the yen was moving up, which could be attributed to a robust economic survey that was recently released from Japan.