* Dollar recovers some losses, tight ranges seen
* Focus on U.S. employment report, euro data
* Investors await interest rate decisions by ECB, BoE
By Kaori Kaneko
TOKYO, Feb 4 (Reuters) - The dollar edged up against a basket of currencies on Wednesday, recovering some losses made the previous day when an unexpected rebound in housing data and hopes for fresh stimulative packages in the United States sapped investors' demand for the safe-haven U.S. currency.
Currencies will likely move in tight ranges as investors await interest rate decisions by the Bank of England and the European Central Bank (ECB) on Thursday and ahead of the key U.S. employment report on Friday, traders said.
"The market has been focusing on how much the Nikkei will rebound, but that focus is shifting to key jobs data in the U.S. later this week. So any sharp moves are unlikely," said a trader at a Japanese trust bank.
Tokyo's Nikkei share average was up 2.0 percent.
The dollar inched up 0.1 percent to 89.50 yen from late U.S. trading on Tuesday.
The euro slipped 0.4 percent to $1.2983 and dipped 0.3 percent to 116.17 yen.
Pending sales of existing U.S. homes rebounded in December as buyers waded back into the market to take advantage of lower prices and mortgage interest rates.
U.S. stocks were also supported by optimism after news that a group of Republican senators had offered a $445 billion alternative plan to boosting the ailing economy.
But analysts said that currency market players were showing caution over whether U.S. stocks would be able to sustain gains as the fate of stimulus plans was still unclear.
The euro was weighed down as investors braced for the ECB's rate decision on Thursday, when it is widely expected to take a break in its rate cutting cycle, but be back in action in March. "Any weak data in the euro zone could ignite rumours of an ECB rate cut this week, which would likely lead the euro down," said the trader at the Japanese trust bank.
Investors were also looking to the U.S. ADP employment report for January, due later Wednesday, as a pointer to Friday's key jobs data.
Also on the market's to-watch list is euro zone retail sales data for December and the services PMI index for January, both slated to land later in the day. (Editing by Brent Kininmont)