Dollar in a holding pattern as investors watch G-7, Fed

The dollar was flat against the yen and the euro during Asia trade Friday as investors avoided taking strong position, settling into a wait-and-see mode concerning the U.S. Federal Reserve’s next move.

The greenback USDJPY, +0.22%  was at ¥110.11, compared with ¥109.95 late Thursday in New York. The euro EURUSD, +0.0625%   was at $1.1202 midday from $1.1203 late Thursday. The WSJ Dollar Index BUXX, -0.02% a measure of the dollar against a basket of major currencies, was unchanged at 87.55.

The dollar has gained traction in recent trade after this week’s release of April’s Fed policy-meeting minutes raised hopes for a rate increase soon. The minutes showed that policy setters discussed the possibility of a June rate increase if the economy continued to strengthen.

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