NEW YORK/LONDON, March 26 (Reuters) - Wall Street turned

modestly lower in late trade on Tuesday, mostly in sync with

subdued global share market movements, while the yen hovered

near 2022 intervention levels after more official Japanese

jawboning to deter shorting of the currency since last week's

monetary policy tightening.

Treasury yields barely moved, reflecting muted trading

across asset classes ahead of Good Friday, when U.S. markets and

many other financial centers will be closed.

The S&P 500 closed down 14.61 points, or 0.28%, at

5,203.58. the Dow Jones Industrial Average fell 31.31

points, or 0.08%, to 39,282.33, and the Nasdaq Composite

fell 68.77 points, or 0.42%, to 16,315.70.

MSCI's gauge of stocks across the globe

fell 1.02 points, or 0.13%, to 778.43.

"It's an interesting dynamic, and this holds every time

we have a Fed meeting - the next week tends to have a quieter

tone to it. Especially a holiday-shortened week like we have

here, and the amount of data influence is going to be lighter,"

said Art Hogan, chief market strategist at B Riley Wealth in New

York, referring to the Federal Reserve.

"That's attracting the sideways movement we've seen."

The pan-European STOXX 600 index rose 0.24%,

and MSCI's broadest index of Asia-Pacific shares outside Japan

closed 0.25% higher 0.25%, at 535.59.

In the spotlight was the yen, which has been

trading close to its weakest against the dollar since 1990, even

after the Bank of Japan raised interest rates last week for the

first time in 17 years.

The dollar ticked up 0.1% to 151.56 yen, facing the risk

of Japan intervening to prevent further falls in the Japanese

currency. Dollar/yen rose to 151.94 in October 2022, before

intervention pushed it lower.

Japanese Finance Minister Shunichi Suzuki said on

Tuesday he would not rule out any measures to cope with the

yen's weakening, echoing a warning from Tokyo's top currency

diplomat the previous day.

The dollar weakened 0.06% to 7.248 versus the

offshore Chinese yuan, which was supported after a

stronger-than-expected fixing of its trading band.

Markets were unsettled by a sharp drop in the yuan on

Friday, after months of tight trading, and some speculate China

is loosening its grip on the currency to allow it to fall.

"We've got changing sands in the FX market. You've got

threat of intervention from Japan ... and from China. It's good

to see that they do actually care about the economy and they are

willing to step in. It's not quite the stimulus we want, but

they are saying 'enough is enough now, we do need to worry about

our deflation'," XTB research director Kathleen Brooks said.

A 14% decline in the yen's value over the last 12 months fed

a surge in Tokyo's Nikkei index to record highs in

recent days, even though it slipped 0.04% on Tuesday.

MIXED OUTLOOKS

Last Wednesday, the Federal Open Market Committee left U.S.

interest rates where they were and the FOMC's median dot plot

projections showed no change to the previous projection of three

rate cuts this year, despite a strong economy and stubborn

inflation.

Confusing the picture somewhat since, while Chicago Fed

President Austan Goolsbee on Monday said he had pencilled in

three rate cuts this year, Fed Governor Lisa Cook urged caution

and Atlanta Fed President Raphael Bostic reiterated Friday

remarks trimming his expectations to one cut.

U.S. interest rate futures price about three Fed rate cuts

this year and about a three-in-four chance of the first cut in

June.

U.S. yields edged up after a report showing orders for

long-lasting U.S. manufactured goods increased more than

expected in February, while business spending on equipment

showed tentative signs of recovery, boosting the economy's

prospects in the first quarter.

They retreated slightly after the Treasury auctioned $67

billion in five-year notes to solid demand.

The yield on benchmark U.S. 10-year notes

was off 2.5 basis point at 4.228%. The 2-year note

yield, which typically moves in step with interest rate

expectations, was flat at 4.5868%.

The week's most important data, the February Personal

Consumption Expenditure Price Index, comes at the end of the

week, when hardly anyone is around to watch.

The federal government is open on Good Friday, but bond

and stock markets are closed, so any trade reaction will come on

Monday.

U.S. crude futures settled 0.4 % lower at $81.62

a barrel and Brent settled 0.58% lower at $86.25 per

barrel.

Spot gold added 0.24% to $2,176.69 an ounce. U.S.

gold futures gained 0.09% to $2,176.80 an ounce.

bitcoin fell 1.74% to $69,753.73. Ethereum

declined 1.55% last fetching $3572.7.