(Adds details, updates prices) By Susan Mathew June 12 (Reuters) - Most Asian currencies traded in tight ranges on Monday, tracking movements in the U.S. dollar ahead of the Federal Reserves' policy meeting this week, where it is widely expected to raise interest rates.

A Reuters poll showed that while markets have priced in a 25-basis point rise in rates, investors' will be looking for any fresh hints on the pace of further tightening and for details on its plans for trimming its balance sheet. Mixed U.S. economic data and lower inflation expectations have created a division of opinion.

"The market will be more focused on the dot plot and whether or not it will show a more gradual rate hike trajectory, and if that's the case, then it will be more positive for Asian currencies appetite post Fed," said Chang Wei Liang, FX strategist at Mizuho Bank.

Markets will also be looking out for any guidance on the vanishing normalisation policy from the FOMC meeting, Chang added, saying that at the moment, the Asian currency markets are in a wait-and-see mode.

The Fed concludes its two-day meeting on Wednesday, and the outcome will affect trade in early Asia on Thursday.

The dollar had risen against a basket of currencies on Friday, helped by a sharp drop in the British pound after surprise results of the UK parliamentary elections. On Monday, though, sterling gained, buoyed by Prime Minister Theresa May's efforts to unite her party.

Among regional currencies, the South Korean won was 0.2 percent lower, after South Korea's central bank chief said on Monday that the bank will maintain its current record-low interest rate of 1.25 percent as uncertainties remain high and as inflationary pressure is weak.

Meanwhile, the Taiwan dollar was on track to post its fifth straight session of losses on Monday, down 0.1 percent.

The Taiwan economy, which is dependent on tech exports to the United States, took a beating with the local semiconductor index falling 1.8 percent, as U.S. tech stocks tumbled on Friday.

But analysts say it doesn't reflect any fundamental shift in terms of demand for tech products and, therefore, any spillover on Asian currencies isn't going to be large and will probably be transitory.

Philippine and Malaysia markets were closed for local holidays.

INDIAN RUPEE The Indian rupee was 0.1 percent lower ahead of consumer price inflation (CPI) data for May, scheduled for later in the day.

Inflation in India is expected to have cooled to a record low in May, a Reuters poll showed, which could add pressure on the Reserve Bank of India to cut interest rates later in the year.