Dollar stable in Asia ahead of Fed meeting.Byline: AFP (1) (AppleTalk Filing Protocol) The file sharing protocol used in an AppleTalk network. In order for non-Apple networks to access data in an AppleShare server, their protocols must translate into the AFP language. See file sharing protocol. TOKYO: The dollar was steady in cautious Asian trade on Wednesday ahead of monetary policy meetings at the US Federal Reserve and other key central banks this week, dealers said. The greenback greenback, in U.S. history, legal tender notes unsecured by specie (coin). In 1862, under the exigencies of the Civil War, the U.S. government first issued legal tender notes (popularly called greenbacks) that were placed on a par with notes backed by specie. was at 90.29 yen in Tokyo afternoon trade, against 90.31 late Tuesday in New York. The euro inched up to 1.4730 dollars from 1.4728 and to 133.02 yen from 133.19. "Players are refraining from taking clear positions ahead of the FOMC See Federal Open Market Committee. FOMC See Federal Open Market Committee (FOMC). (Federal Open Market Committee meeting)," said Yosuke Hosokawa, head of forex group at Chuo Mitsui Trust Bank. "The chances of a change in rates are extremely slim as the US economy is still struggling to recover from abnormal economic conditions," said Hosokawa. "Market participants will look to see how positively the FOMC assesses the US economy," he added. The US Federal Reserve is widely expected to hold its key lending rate steady in a range of zero to 0.25 percent on Wednesday. The European Central Bank European Central Bank (ECB) Bank created to monitor the monetary policy of the countries that have converted to the Euro from their local currencies. The original 11 countries are: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Bank of England Bank of England, central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office stands on the street of that name in London. will announce policy decisions the following day. Most analysts expect no change in the level of interest rates in Europe, but markets will be watching closely to see what the central banks might have to say on the prospect for an eventual tightening of monetary policy. Traders were also turning their attention to key US jobs figures due Friday. In regional Asian trade, the dollar declined to 1,180.90 South Korean won Noun 1. South Korean won - the basic unit of money in South Korea won South Korean monetary unit - monetary unit in South Korea chon - 100 chon equal 1 won in South Korea from 1,182.05 on Tuesday, to 1.3978 Singapore dollars from 1.3997 and to 9,547 Indonesian rupiah from 9,580. The greenback fell to 32.55 Taiwan dollars from 32.56, to 33.44 Thai baht from 33.47 and to 47.70 Philippine pesos from 48.00. Muscat Press and Publishing House SAOC 2009 Provided by Syndigate.info an Albawaba.com company |
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