Dollar edges up after previous day\\\'s slide

The dollar edged higher on Tuesday, showing resilience in the wake of the previous day's slide, which was seen as a temporary setback for dollar bulls.The dollar rose 0.3 percent against the yen to 109.11 yen. On Monday, the dollar had shed 0.9 percent versus the yen - its biggest one-day drop since early April - and backed away from a six-year high of 110.09 yen set last week.The yen's immediate fortunes now hinge on the outcome of the Bank of Japan's policy review due later in the day, followed by a media briefing by the BOJ governor.The BOJ is sure to maintain its massive monetary stimulus, but may acknowledge a more challenging outlook following signs that Japan's economy was hit harder than expected by a sales tax increase six months ago.Traders said the dollar's drop on Monday, in which the greenback reversed almost all of its U.S. payrolls-inspired
gains, was mostly due to profit-taking as U.S. Treasury yields remained stubbornly low."I think it is just a correction of short-term positioning," said Jeffrey Halley, FX trader for Saxo Capital Markets in Singapore."Overall the U.S. dollar is still in a strong uptrend," Halley said, adding that the dollar's rise in Asian trade on Tuesday seemed to be driven mainly by short-term momentum players,according to Reuters.