TOKYO: The dollar was marginally higher against the yen and euro Tuesday ahead of a closely watched Federal Reserve policy meeting, while the yen faced pressure after the Bank of Japan warned of zero inflation “for the time being.”
In midday Tokyo trading, the greenback was at ¥121.43, up slightly from ¥121.35 in New York late Monday.
The euro, which hit a 12-year low Monday below $1.0500, bought $1.0570 against $1.0565 in US trade.
The single currency also fetched ¥128.37 compared with ¥128.21 in New York.
The BoJ on Tuesday held off widening its stimulus program but said tumbling energy prices could push inflation to zero, marking another setback for Tokyo’s attempt to lift prices and kickstart the economy.
