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06 May 2002 09:31  : Dollar clings to gains but upside capped


Dollar struggles to hold gains amid thin trade due to Golden Week holiday in Tokyo and bank holiday in London.
- Singapore dealers say early dollar rise on profit-taking on euro and yen easing as players reluctant to push currencies too far in thin conditions.
- Dollar capped around 91.60 against euro, from Friday's 6-Ѕ month 91.73 low and around 127.15 against yen, from Friday's fresh two-month 126.86 low.
- Dealers say yen weighed down by renewed fears of intervention by Japanese authorities to cap yen gains after local markets reopen on Tuesday.
- Federal Reserve's Tuesday policy-setting meeting unlikely to change 1.75 percent key fund rate but market still keen to read post-meeting statement for clues on U.S. economic health.

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