Dollar a tad softer as markets wait for Fed [Reuters]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Reuters
and sterling stayed near the bottom of the ranges hit during Friday's volatile session. Japan's yen was at 158.05 per dollar, up nearly 0.2% in quiet trading with Tokyo markets closed for the first of the country's Golden Week holidays. It had moved nearly 3.5 yen between 158.445 and 154.97 on Friday as traders vented their disappointment after the kept policy settings unchanged and offered few clues on reducing its Japanese government bond (JGB) purchases - a move that might have put a floor under the yen. The Federal Reserve's May 1 policy review is the prime focus for markets this week, with investors already anticipating a delay in its rate cuts after a batch of sticky U.S. inflation and as officials including Chair Jerome Powell emphasise even those plans are dependent on data. Vishnu Varathan, head of Asia economics and strategy at Mizuho Bank in Singapore, expects the dollar-yen pair will see more two-way action until the Federal Open Market Committee (FOMC) meeting, un
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