This one can be tricky if you rush through it.
As some users have posted, at first glance, it appears that x must be positive however it is important to remember that even exponents can mask signs or make negative numbers into positive.
Consider x = -2;
Is there any power we can raise -2 to to make it a positive fraction less than 1?
Well to make it positive we have to raise it to an even exponent and to make it a fraction we have to raise it to a negative exponent; Thus raising it to a negative even exponent could satisfy the requirements.
Both y = -2 and y = -4 work, however they give different answer to the question "is x>y?" thus more information is needed.
To finish this off quickly - the 2nd statement tells us very little on its own so we'll need to combine it with statement I;
y is odd means that x cannot be negative as there is no way we can make it a positive number;
Together this information is sufficient