Forex traders seek safety on growing Fed fears
TOKYO (AFP) - The dollar fell against the yen on Tuesday but climbed against emerging market currencies as dealers bet the US Federal Reserve will soon begin winding down its vast stimulus programme.
With eyes on the release on Wednesday of minutes from the Fed's most recent policy meeting, expectations are that its year-long bond-buying, which has helped fuel a global equity and forex rally, could be coming to an end.
In late Asian trade the greenback bought 97.33 yen, against 97.56 yen in New York on Monday.
The euro was quoted at US$1.3336, against US$1.3334 in New York, while the single currency was trading at 129.82 yen, from 130.09 yen.