Dollar-yen rate up in Asia

TOKYO: The dollar rose against the yen in Asia Wednesday as investors await the end of the US Federal Reserve´s policy meeting to find out its plans for its stimulus programme.

The greenback bought 102.91 yen in Tokyo, up from 102.63 yen in New York Tuesday but still well off a five-year high of 103.93 yen reached at the end of last week.

The euro, buoyed by improving eurozone inflation data, strengthened to $1.3772 and 141.75 yen against $1.3765 and 141.28 yen.

Fed policymakers will wrap up their two-day meeting after debating whether the economy is strong enough to immediately scale back its $85 billion a month quantitative-easing (QE) programme.

Analysts are split on whether it will act right away or wait until early in the new year as fourth-quarter data flows in. A pullback is usually a plus for the dollar.

"Firmer data, especially in the US jobs market over recent weeks, and the recent budget deal have raised the odds of tapering being announced (Wednesday) although a move in January still looks more likely," Credit Agricole said.