The US dollar remained range bound against the euro and yen in early afternoon trade here, with market participants in Asia taking to the sidelines ahead the two-day US Federal Market Opening Committee (FOMC) meeting, dealers said. At 12.20 pm (0320 GMT) here, the euro was quoted at 1.2162 usd, after moving in a range of 1.2155-75 usd during Asian trading hours. Just over two hours earlier in Sydney, it was at 1.2166 usd, and it was at 1.2164 usd in late New York trade. The dollar stood at 109.50 yen, compared to 109.45 yen earlier in Sydney and 109.28 yen in New York overnight. It had traded here between 109.22 yen and 109.48 yen. "Few market players are willing to take positions ahead of the FOMC meeting. Last Friday and Monday trading saw speculators unwinding their short-euro positions against the dollar and yen. So the euro's bounce was limited," said Harry Ida, senior currency analyst at Thomson Financial's IFR Forex Watch. While the euro's bias remains softer against the dollar, partly because of speculation about an interest rate cut by the European Central Bank next week, euro-bears took a breather after breaching the key 1.200 usd mark Friday, Ida said.