Currencies: Dollar retreats against pound, yen as central banks lurk

The U.S. dollar weakened against the pound and yen Monday, retreating from the sharp advance seen at the end of last week as investors looked ahead to closely watched meetings of the U.S. Federal Reserve and the Bank of Japan, which could influence currency prices.

Among major pairs, the dollar USDJPY, -0.35% fell to 101.82 yen, compared with ¥102.28 late Friday in New York. One U.K. pound GBPUSD, +0.2077% was buying $1.3028, compared with $1.3004. Meanwhile, the euro EURUSD, +0.1613% was trading at $1.1177, little-changed from its levels late Friday.

The ICE U.S. Dollar Index DXY, -0.16% a gauge of the buck’s strength against a half a dozen rivals, was off 0.2% at 95.860, while the WSJ Dollar Index BUXX, -0.26% a measure of the dollar against a basket of 16 major currencies, was down 0.3% to 86.89.

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