Money World economy
The dollar traded close to a one-month low against the yen in Asia Monday as investors waited nervously for a Federal Reserve meeting and a key speech by US President Barack Obama this week.
The dollar was at 89.98 yen in Tokyo morning trade, against 89.91 in New York late Friday. The euro was steady at 1.4136 dollars but rose to 127.19 yen from 127.03.
Investors were cautious ahead of the Fed's two-day monetary policy meeting starting Tuesday, followed a day later by Obama's State of the Union speech, which comes amid concern about his tough banking reform plan.
Any traders taking a positive view of the dollar's prospects will be looking for signs in Obama's speech that the US government "is serious about cutting the burgeoning budget deficit, Calyon analysts wrote in a note.
The market was also grappling with doubts about the future of Fed chairman Ben Bernanke after key Democratic senators said last week they would oppose the central bank chief's reappointment after his first term ends on January 31.
