NEW YORK, May 7 - The U.S. dollar slipped on Tuesday but strengthened against the Japanese yen as expectations of large interest rate differentials continued, even after new warnings from Japanese officials about their willingness to prop up their currency.
"The big action last week and a little bit before was the BOJ, which has achieved some success, but there's nothing really to go on right now, so things are just sort of sitting still," said Joseph Trevisani, senior analyst at FX Street in New York. Minneapolis Federal Reserve president Neel Kashkari said in a new essay that the strength of the housing market and potentially stalled progress on inflation mean monetary policy may not be as tight as Federal Reserve officials think it is.
With a light economic calendar this week, highlighted by the consumer sentiment reading from the University of Michigan on Friday, a host of Fed officials are due to speak, including Fed Governors Lisa Cook and Michelle Bowman later in the week.
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