Sharjah24 – Reuters: The dollar clung to a late week bounce on Monday as investors braced for January's U.S. Federal Reserve meeting and raised bets it will chart a year ahead containing several rate hikes, while China cut borrowing costs to support a stuttering economy.

A Bank of Japan meeting which concludes on Tuesday, British inflation data on Wednesday and Australian jobs figures on Thursday are also in view as traders gauge the global policy outlook.

An unexpected cut to some key lending rates in China highlighted it as the outlier, though it only briefly weighed on the yuan.

The dollar was 0.3% higher at 114.47 yen late in the Asia session, about 0.8% above a Friday low. It also edged a fraction firmer on the euro to $1.1421.

The moves follow a jump in yields and the dollar on Friday and underscore support for the greenback from the hawkish rates outlook, even if momentum for gains has started to wane.

The U.S. dollar index, which declined sharply last week until Friday's leap, sat at 95.225 in Asia on Monday.