The dollar began the last trading week of the month on the back foot, with traders awaiting a slew of central bank meetings in May for clues on when the steepest global monetary policy tightening campaign in years might come to a halt.
Top of investors' minds will be next week's FOMC meeting, where Federal Reserve policymakers are widelyto raise rates by another 25 basis points , though focus will be on the guidance for the future rate path.
The U.S. dollar dipped against most major currencies in early Asia trade, with the euro and sterling rising 0.05% to $1.0994 and 0.02% to $1.2447, respectively.U.S. and euro zone business activity gathered pace in April, pushing back against concerns about an impending recession in major economies. In Asia, the Bank of Japan's policy meeting this week takes centre stage, as it marks the first meeting to be chaired by new BOJ Governor Kazuo Ueda.to maintain the BOJ's current ultra-easy policy at the meeting, having reassured markets since succeeding Haruhiko Kuroda early this month that any change in policy won't happen quickly.
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