The Ghanaian Journal

 Sterling rose against the dollar and the euro on Tuesday as investors focused on possible inflows from corporate takeover activity and strong UK economic fundamentals.Traders reported a UK bank buying 1.5 billion sterling against the yen on Tuesday, related to corporate takeover activity. By 0852 GMT sterling was up half a percent on the day at $1.9671.

 The dollar was steady against the euro and the yen on Tuesday but remained in very narrow ranges as dealers awaited a deluge of U.S. economic data this week. The Fed later on Tuesday will begin a two-day policy meeting, but it is expected to hold its key rate steady at 5.25 percent.

 The yen stayed near a 4-year low against the dollar on Tuesday as soft Japanese economic data raised further doubts about whether the Bank of Japan will lift interest rates next month. By 1222 GMT the dollar was up 0.1 percent on the day at 121.87 yen, near Monday’s four-year peak of 122.19 yen.

 The euro was flat at $1.2956, having been stuck between $1.2865 and $1.3045 for the past two weeks. Analysts said range trading was likely to continue on euro/dollar for the rest of the day ahead of Wednesday’s euro zone January inflation data.

 South Africa’s rand firmed slightly against the dollar on Tuesday as investors trimmed dollar positions ahead of a U.S. monetary policy meeting, fearing a possible cut in interest rates in that country. The rand was quoted at 7.3035 at 0700 GMT. The local currency was about 0.5 percent better off than in late Johannesburg trade