Investing.com - The yen traded weaker in Asia on Tuesday as remarks by Fed policymakers overnight shifted the ground slightly on rate hike expectations this year.
USD/JPY changed hands at 112.11, up 0.15%. while AUD/USD traded at 0.7579, flat.
Australia reports house price index data for the fourth quarter with a 0.1% gain seen quarter-on-quarter.
In Japan, manufacturing PMI provisional for March is due with a level of 50.6 expected, up a few ticks from 50.1 in the previous month.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 95.40.
Overnight, the dollar edged moderately higher against the other major currencies in quiet trade on Monday, as the greenback continued to recover from the Federal Reserve’s most recent policy statement and no major U.S. economic reports were to be released throughout the day.
The National Association of Retailers said that existing home sales fell 7.1% in February to 5.08 million units from 5.47 million units in February. Analysts had expected existing home sales to drop by 2.2% to 5.34 million units last month.
The greenback recovered from losses posted after the Federal Reserve said last week that it is likely to raise interest rates only twice this year – and not four times, as initially estimated.
The euro came under pressure after European Central Bank Chief Economist Peter Praet said on Friday that euro zone interest rates could go even lower.