Dollar steady in Asia

TOKYO: The dollar held steady in Asia Tuesday ahead of a key US Federal Reserve policy meeting, while the euro won support from upbeat business activity data for the embattled eurozone.

The greenback fetched 103.00 yen in Tokyo afternoon trade, nearly flat from 103.02 yen in New York Monday, while the European single currency bought $1.3768 and 141.76 yen from $1.3761 and 141.77 yen.

"The focus ahead will be firmly on the Fed" meeting, Credit Agricole said, adding that there is an element of caution in the market as the outcome it largely uncertain.

Data Monday showed US industrial output expanded 1.1 percent in November with manufacturing showing a fourth consecutive monthly gain.

The news added to speculation that the central bank will this week announce a wind-down of its $85 billion a month bond-buying programme.

Adding to downward pressure on the yen is a growing sense that the Bank of Japan will boost its own monetary easing scheme after a sharp slowdown in third-quarter economic growth -- despite an upbeat business sentiment survey Monday. The bank holds a two-day policy meeting from Thursday.