Dollar slips before Fed meeting, long positions cut
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Dollar slips before Fed meeting, long positions cutDollar slips before Fed meeting, long positions cut(Reuters) - The dollar fell against the yen and cut gains versus the euroHair replacementon Tuesday #xwith some traders trimming dollar long positions ahead of a Federal Reserve policy-setting meeting.The yen gained broadly after investors found no new reason to sell the currency further after a flurry of media reports that the Bank of Japan is leaning toward easing steps this week, prompting them to trim yen short positions, traders said.The U.S. Fed's Federal Open Market Committee holds a one-day meeting on Tuesday where it is expected to reiterate its vow to keep interest rates very low for an "extended period," though one member dissented at the last meeting and sought to drop that phase.Market participants are keen to see if there are any more dissentersHair replacementthis time after recent economic data showed U.S. consumers are buying more and firms seem ready to hire again."Those who had stretched dollar buying are now trimming those positions before the Fed outcome. But the dollar's ultimate reaction to the Fed results will be either steady on an unchanged statement or a rise if the remarks suggest an upgrade in outlook," said a senior currency options manager for a Japanese bank."There is little scope for dollar weakness surrounding this event," the manager said.The dollar index .DXY, a gauge of its performance against six major currencies,Compact fluorescent lamp, dropped 0.1 percent to 80.12, with near term resistance seen around 80.85, its March 10 high.Any change in the Fed's language is likely to provide a boost to the U.S. dollar, but chances of that happening are pretty low, traders say.The euro rose 0.1 percentHair replacementfrom late New York #xtrade on Monday to $1.3690 after having fallen as low as $1.3639 the previous day.相关的主题文章：
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