The dollar is hovering in a tight range ahead of central bank meetings. Against the Japanese yen, the greenback rose 0.4%.

The US dollar traded in a narrow range on Tuesday. Against the Japanese Yen, the US Dollar was up 0.4% as the pair stood at 114.1600, below the four-year high of 114.695 hit last week. The Dollar Index was trading at 93.8330 at 1356 GMT. It was midway between a one-year high of 94.563 hit earlier in the month and a one-month low of 93.483 hit on Monday. The euro was unchanged at $1.1610. The Canadian dollar rose slightly against the greenback on Tuesday due to higher oil prices. The euro has been weakened recently by expectations that the European Central Bank will take a dovish stance at its meeting. The largest movements were recorded by the British pound, the Australian dollar and the Japanese yen. The pound rose above $1.38. The pound then retreated to settle at $1.3794, which represents a rise of 0.2% for the day.