US dollar inches up ahead of Fed policy meeting

Tokyo

THE US dollar edged up on Tuesday with investors focusing on a Federal Reserve policy meeting as expectations for a June interest rate hike fade.

In Tokyo, the greenback inched up to 119.11 yen, from 119.05 yen in New York. The euro lost some gains that were driven by upbeat remarks from Greek Prime Minister Alexis Tsipras that he was confident tough negotiations with his country's European Union-International Monetary Fund creditors would result in a deal by early May. Hopes for a deal were also boosted after Athens reshuffled its negotiating team following months of fruitless talks. The single currency slipped to US$1.0871 from US$1.0889 and to 129.49 yen from 129.64 yen in US trade.