Currencies: Dollar slips as investors look for clarity about Fed’s intentions

The dollar meandered against yen and other major currencies on Tuesday, amid uncertainty over the timing of the Federal Reserve’s anticipated rate increase.

Lack of clarity over the Bank of Japan’s policy outlook also led the yen to trade largely sideways.

The dollar’s DXY, -0.15% rising momentum since Friday’s U.S. jobs data against the yen and the euro has eased, weighed on by skepticism over the pace of the Fed’s rate increases.

“(Fed official) comments are suggesting they’ll do [a rate hike] at least once this year, but the market isn’t convinced,” said Kosuke Hanao, head of FX at HSBC in Tokyo.

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