Dollar firms, yen slides as Fed, BOJ decisions loom; oil price fears mount

The dollar strengthened and the yen weakened ahead of Fed and BOJ policy decisions this week, with markets pricing a U.S. rate hike and worrying about oil-driven inflation. The yen's slide reflects divergent monetary policy expectations, while rising oil prices add to global inflation concerns. The outcome of both central bank meetings will determine near-term FX direction.