Dollar down against yen in Asia

The dollar fell versus the yen in Asia Tuesday, as Japanese exporters sold the greenback and other currency traders awaited speeches by U.S. Federal Reserve officials that could provide hints about the possibility of any interest rate moves in October.

Photo: Dollar down against yen in Asia

The U.S. dollar was trading at 117.20 yen at 2:50 p.m. (0550 GMT) Tuesday, down from 117.36 yen late Monday in New York. The euro fell to US$1.4020 from US$1.4047.

Traders said healthy U.S. employment data released Friday have made it difficult to predict what actions the Fed may take this month, leaving investors to look elsewhere for clues on the U.S. monetary policy outlook.

Their immediate focus is on speeches by William Poole, president of the Federal Reserve Bank of St. Louis, and Janet Yellen, president of the Fed branch in San Francisco, both scheduled for later in the day.

"While they are unlikely to make any clear remarks about the Fed's next interest rate decision, players will still keep an eye on them" just in case, said Akio Shimizu, a senior dealer at Mitsubishi UFJ Trust and Banking Co.

Some players will also be waiting for the minutes from the last meeting of the Fed's policy making body, also due out later in the day.

The dollar was higher against other Asian currencies, rising to 39.536 Indian rupees from 39.410, to 44.275 Philippine pesos from 44.150, and to 918.0 South Korean won from 914.6.