Investing.com - The yen held strength in Asia on Tuesday despite a slightly lower than expected current account surplus with the regional focus on China's economy.
USD/JPY changed hands at 117.55, down 0.16%, while AUD/USD traded at 0.6988, down 0.12%.
In Japan, current account data for November came in at ¥1.42 trillion, less than the adjusted surplus of ¥1.52 trillion expected.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.01% to 98.91.
Overnight, the dollar pushed slightly higher against the other major currencies in quiet trade on Monday, still supported by Friday’s strong U.S. employment report, while concerns over turmoil in China persisted.
The yen weakened after China’s central bank moved to support the yuan, but another steep drop in Chinese shares overnight added to fears over the outlook for the world’s second largest economy.
Earlier Monday, the People’s Bank of China set the daily midpoint rate for the yuan higher against the dollar. It was the second day the bank guided the yuan stronger, following eight days of weaker guidance.
The move alleviated concerns over weakness in China’s currency, but shares in China tumbled 5% overnight after the latest inflation figures added to concerns over its economy.