Forex - Dollar mixed in rangebound trade Sydney morning
SYDNEY (XFN-ASIA) - The dollar was up against the yen but softer against the euro in rangebound trade here ahead of today's Bank of Japan interest rate decision and US housing market data for February due later tonight, dealers said.
At 10.17 am here (2317 GMT Monday), the dollar was at 117.55 yen, up from 117.50 in late New York trading, while the euro was at 1.3309 usd, up from 1.3295 in New York.
Dealers said currency pairs moved in fairly narrow ranges overnight due to a lack of key data, while renewed risk appetite encouraged the rebuilding of carry trade positions, which saw dollar/yen hit a high of 117.80.
NAB Capital strategists said expectations that the BoJ will issue a relatively dovish statement after its policy decision later today also helped underpin dollar/yen, with hedge funds, leverage-type accounts and Japanese importers seen as buyers of the greenback.
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