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Currencies: Dollar sticks to tight ranges as decisions from BOJ, Fed loom

The dollar was little changed against both the yen and the euro on Tuesday, with investors reluctant to take positions ahead of monetary policy decisions in Japan and the U.S.

The U.S. dollar USDJPY, -0.20% changed hands at ¥101.85, compared with ¥101.91 late Monday, while the euro EURUSD, +0.0268% traded at $1.1183, compared with $1.1179. Among other currency pairs, the euro EURJPY, -0.20% was at ¥113.85 from ¥113.89.

Many currency-market watchers in Tokyo expect the BOJ will take steps to steepen the yield curve, an outcome that could result in a lower purchases of superlong Japanese government bonds by the central bank.

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