June 1, 2006	Thursday	Jumadi-ul-Awwal 4, 1427

LONDON, May 31: The dollar steadied against the euro and yen on Wednesday as the market awaited minutes to the last meeting of the US Federal Reserve’s rate-setting body.

The euro stood at $1.2866 in European trading on Wednesday from $1.2867 on Tuesday.

The dollar eased to 111.92 yen, from 112.14 yen on Tuesday.

Dealers were waiting for fresh leads from the US Federal Reserve Open Market Committee’s minutes from its May 10 meeting due to be published later Wednesday as well as Friday’s key US employment report.

Analysts expect the minutes to be dovish as they were written when new Fed chief Ben Bernanke suggested US borrowing costs may be kept on hold following 16 increases in a row.

As a consequence we expect the dollar to remain pressured, said Gavin Friend, currency strategist at Commerzbank Corporates and Markets.—AFP