AFP (16/12) -- The
dollar slipped in Asia on Monday as investors adjusted positions ahead
of a key US Federal Reserve policy meeting this week that could see the
bank announce a cut to its stimulus programme.
 The
greenback which had touched a five-year high 103.93 yen on Friday
before easing later in the day -- fetched 102.81 yen in Tokyo late
morning trade, against 103.23 yen in New York Friday.
The
euro, which also hit a five-year high of 142.83 yen against the yen on
Friday before falling back -- bought 141.44 yen compared with 141.81 yen
in New York. The single currency was at $1.3747 from $1.3738.
A
string of upbeat data out of the United States in recent weeks has
fuelled speculation the Fed will announce a reduction in its $85 billion
a month bong-buying scheme at the end of its two-day meeting Wednesday.
Opinion split on whether it will begin winding down its bond-buying programme this month or early next year.
The
dollar-yen rate also weakened as markets took a cue from falling
Japanese share prices, said a senior dealer at a major bank in Tokyo.
Currency
rates hardly moved soon after the Bank of Japan released said its
Tankan survey of business confidence had hit a six-year high in the
October-December period, underscoring growing optimism among major
firms.
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