MW: Dollar edges up vs. yen, slips vs. euro, pound
By Lisa Twaronite, MarketWatch
TOKYO (MarketWatch) -- The dollar stuck to a narrow range in Asian trading Monday, edging up against the yen but giving up ground against most other major currencies.
The dollar was buying 95.06 yen, up from 94.84 yen in late North American trading on Friday.
The dollar index (DXY 78.59, -0.18, -0.23%) , which tracks the greenback against a trade-weighted basket of major currencies, was at 78.641, down from 78.737 late Friday.
The euro was buying $1.4245, up from $1.4224 late Friday, and the British pound was at $1.6447, slightly up from $1.6441.
Later Monday, U.S. and Chinese officials will begin meeting for two days of economic talks, though many analysts questioned whether anything substantial would emerge. See full story on U.S.-China talks.
"U.S. and Chinese officials meet today and tomorrow for the first high-level talks of the Obama administration. The market will be on alert for any commentary regarding the U.S. dollar's status as a reserve currency," said Sue Trinh, senior currency strategist at RBC Capital Markets.
China will likely resist any pressure to let the yuan strengthen and instead follow its own timetable for currency appreciation, analysts said Monday. See Asia Markets.