Investing.com - The dollar slipped lower against the yen on Tuesday, ahead of U.S. economic data due later in the session, amid concerns that the economic recovery is slackening.
USD/JPY was down 0.15% to 102.35, holding below the three-week high of 102.82 struck on Friday.
The pair was likely to find support at 101.90 and resistance at 102.82, Friday’s high.
Investors were looking to U.S. reports on house price inflation and consumer confidence for further indications on the outlook for growth.
A recent series of disappointing U.S. economic indicators, including reports on jobs growth, retail sales and housing, have sparked concerns that the economic recovery has lost momentum since the end of last year.
The euro was also lower against the yen, with EUR/JPY sliding 0.15% to 140.57.
The euro moved higher against the yen and the dollar on Monday after data showed that Germany’s Ifo business climate index rose by the most in over two-and-a-half years in February.
But the euro turned lower amid ongoing concerns that the European Central Bank may tighten monetary policy to stave off the risk of deflation in the euro area.
The annual rate of euro zone inflation came in at 0.8% in January, data on Monday showed, slightly higher than the preliminary estimate for 0.7%. It was still well below the ECB’s target of 2% inflation.
The euro was little changed against the dollar, with EUR/USD inching up 0.04% to 1.3739, not far from the seven-week high of 1.3772 reached last Wednesday.