US dollar trade in lower 121 yen in morning

LONDON: The U.S. dollar traded in the lower 121 yen zone early Tuesday in Tokyo, little changed from its levels overnight in New York.

At 9 a.m., the dollar fetched 121.37-38 yen compared with 121.28-38 yen in New York and 121.22-25 yen in Tokyo at 5 p.m. Monday.

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The euro was quoted at $1.0571-0572 and 128.31-32 yen against $1.0564-0574 and 128.14-24 yen in New York and $1.0530-0532 and 127.66-70 yen in Tokyo late Monday afternoon.

In New York on Monday, the dollar was hemmed in a narrow range, as players refrained from actively trading ahead of the U.S. Federal Reserve’s two-day meeting of its policy-setting Federal Open Market Committee starting Tuesday.