TOKYO: The dollar edged up in Asia on Tuesday as investors await the outcome of a US Federal Reserve meeting for an idea of when it will begin to reel in its massive stimulus drive.
The greenback stood at 94.83 yen in Tokyo in the afternoon, from 94.67 yen in New York late Monday.
The euro also rose to 126.66 yen from 126.52 yen, but weakened to $1.3355 from $1.3363.
The Federal Open Market Committee will issue a statement on Wednesday after a two-day policy meeting, which will be quickly followed by a briefing from the bank's chairman, Ben Bernanke.
Markets have been in turmoil for weeks on speculation the central bank will announce a tightening of its $85 billion-a-month asset-buying programme, known as quantitative easing (QE).
A Financial Times report said Bernanke would likely signal the Fed is close to tapering the purchases but would temper that with arguing a move would depend on conditions in the world's largest economy.
A mixed bag of US data recently has pointed to an uncertain recovery with many analysts predicting the Fed would hold off cutting back on QE for the time being.
"The market is sensitive," Fabian Eliasson, head of currency sales at Mizuho Bank, told Dow Jones Newswires.
"There's just too much uncertainty about the Fed's next move." Euro trading was stable ahead of reports on the manufacturing sector in the recession-hit eurozone scheduled for later in the day.
The dollar was mostly stronger against other Asia-Pacific currencies Tuesday.
It firmed to Sg$1.2601 from Sg$1.2548 on Monday, to 1,130.75 South Korean won from 1,128.20 won, to 43.25 Philippine pesos from 42.93 pesos, and to 30.75 Thai baht from 30.71 baht.
The dollar also strengthened to 9,944 Indonesian rupiah from 9,900 rupiah, to 58.41 Indian rupees from 57.77 rupees, and to Tw$29.91 from Tw$29.86.
The Australian dollar slipped to 95.18 US cents from 96.16 cents while the Chinese yuan fetched 15.45 yen from 15.43 yen.
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