TOKYO -
The dollar edged up against the yen in Asia Monday in subdued trading as many investors stood on the sidelines ahead of a Federal Reserve meeting on interest rates.
The dollar was trading at 111.74 yen at 2:50 p.m. (0550 GMT) Monday, up from 111.69 yen late Friday in New York. The euro fell to US$1.4644 from US$1.4655.
Reducing the benchmark fed funds rate by half a percentage point to 4 percent will support the greenback, said Takuma Kurosawa, a senior dealer at HSBC (nyse: HBC - news - people ).
"Anxieties over tight liquidity will be eased at least for the coming month,"
Other dealers concurred, saying the dollar's sentiment is slowly becoming positive after the White House's rescue package for borrowers last week and Abu Dhabi Investment Authority's recent investment in Citigroup Inc. (nyse: C - news - people )
The dollar edged up against the yen in Asia Monday in subdued trading as many investors stood on the sidelines ahead of a Federal Reserve meeting on interest rates.
The dollar was trading at 111.74 yen at 2:50 p.m. (0550 GMT) Monday, up from 111.69 yen late Friday in New York. The euro fell to US$1.4644 from US$1.4655.
Reducing the benchmark fed funds rate by half a percentage point to 4 percent will support the greenback, said Takuma Kurosawa, a senior dealer at HSBC (nyse: HBC - news - people ).
"Anxieties over tight liquidity will be eased at least for the coming month,"
Other dealers concurred, saying the dollar's sentiment is slowly becoming positive after the White House's rescue package for borrowers last week and Abu Dhabi Investment Authority's recent investment in Citigroup Inc. (nyse: C - news - people )
1 comment:
the dollar may fall a tad due to disappointment since some players anticipate half a percentage point slash...
Post a Comment