The US dollar edged lower against the yen and was trading in tight ranges against other rival currencies in Asia amid lean volumes with the US and UK markets shut for public holidays, dealers said. Currency movements tend to be exaggerated when volumes are low and the dollar was just probably giving up some gains from Friday when it rallied after a Commerce Department report showed the US core inflation reading -- as measured by the personal-consumption-expenditure price index, excluding food and energy -- in line with expectations, dealers said. Kikuko Takeda, currency analyst at Bank of Tokyo-Mitsubishi UFJ, believes the decline in the dollar for the most part of last week may have paused ahead of the long weekend in the US and the UK. Risk aversion had also seen funds moved to the dollar amid increased volatility in emerging markets such as India, she said.