Dollar rangebound in Asia ahead of policy meetings

TOKYO: The dollar traded in a tight range against the yen in Asia on Tuesday as market players waited for the outcome of meetings by Japanese and US central bankers.

The dollar fetched 82.37 yen in Tokyo morning trade, compared with 82.32 yen in New York late Monday.

Rates hardly changed after Japanese Finance Minister Jun Azumi said Tokyo had won approval from Beijing to buy Chinese government bonds, worth $10.3 billion, for the first time.

The euro edged up to $1.3166 and 108.44 yen from $1.3147 and 108.22 yen as worries over eurozone debt temporarily receded after Greece won a second bailout and Spain was granted concessions in its bid to shrink its debt load.

Policymakers at the Bank of Japan are to wrap up a two-day meeting Tuesday and the Federal Reserve will hold a one-day meeting later in the day.

US stocks finished mixed Monday ahead of the Fed policy board meeting that analysts hope will give a clearer picture of the US economy's direction and signs of a firm recovery. (AFP)