SINGAPORE: The dollar was firm on Tuesday while the yen struggled on the weaker side of the 156 level, though trade was mostly range bound as investors generally stuck to their views of the expected timing and extent of Federal Reserve rate cuts this year.

Cryptocurrencies rallied, led by a surge in ether on growing anticipation of an impending approval of spot ether exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC).

Against the yen, the dollar rose 0.07% to 156.37 in the early Asian session.

The yen has traded in a tight range over the past few sessions as fears of further intervention from Japanese authorities deterred traders from pushing the currency to new lows.