Dollar range-bound in Asia

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Tokyo - The dollar moved narrowly in Asia on Monday as simmering geopolitical tension capped activity while investors look to a slate of US data and a Federal Reserve policy meeting later this week.

In Tokyo late morning trade, the greenback was quoted at 101.80 yen, slightly down from 101.83 yen in New York on Friday.

The euro was also flat at $1.3431 and 136.75 yen, against $1.3430 and 136.76 yen, as a closely watched survey showed that concerns over crises in the Ukraine and Middle East dented German business confidence this month.

Currency traders will be keeping an eye on releases from the United States that is expected to show the world's number one economy gaining strength as the central bank pulls exits a year-long stimulus drive.

“There will be plenty for investors to digest in the days ahead and we expect the releases to again show strong momentum in the US,” Credit Agricole said.

“The US dollar is unlikely to extend its gains ahead of Friday's non-farm payrolls, “ it added.

Tensions around the jet crash in Ukraine have kept some investors on the sidelines.

Because of heavy shelling in the area observers from the Organisation for Security and Co-operation in Europe (OSCE) have been unable to access the site where Malaysia Airlines Flight MH17 came down on July 17, killing 298 people.

On Sunday, Russia accused the US of hindering the OSCE's work in Ukraine, while the Netherlands scrapped plans for an armed international mission to secure the area.

Moscow has accused the US of supporting Kiev against separatist rebels in eastern Ukraine and of “sharing the responsibility of spilt blood” in the conflict.

The United States and Europe accuse Moscow of supporting the insurgents, and claim a Russian-made missile was used to shoot down MH17.

US President Barack Obama has called for an immediate ceasefire in Gaza, after Israel and Hamas ignored calls for a truce and the raging conflict entered its third week on Monday. - AFP


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