* Euro/dollar slips, dollar index little changed
* Yen rises broadly as some shares struggle
* Analysts await U.S. CPI due later in the day
By Naomi Tajitsu
LONDON, Aug 14 (Reuters) - The euro slipped on Friday, while the yen rose across the board as struggling share prices prompted selling in currencies considered to be higher-risk.
Risk appetite was subdued in quiet trade as U.S. stock futures came under selling pressure after Chinese shares fell 3 percent earlier in the day, while the dollar was little changed against a currency basket ahead of a string of U.S data due later in the day.
"The yen has been the main beneficiary of the moves in stock prices but in general, ranges have been tight for the major currency pairs," analysts at JPMorgan said in a research note.
By 0820 GMT, the euro had slipped 0.1 percent to $1.4270. The euro pulled back from a near one-week high around $1.4327 hit on Thursday on the back of data showing the French and German economies both grew on the quarter in April-June.
U.S. stock futures were flat on the day after sliding around 0.3 percent in early European trade, even as regional European shares rose nearly 0.5 percent.
The dollar index was flat at 78.458, while the U.S. currency fell 0.3 percent against a broadly stronger yen to 95.15 yen.
The euro fell 0.3 percent to 135.78 yen, while a broadly weak sterling fell 0.6 percent to 157.24 yen.
The high-yielding Australian dollar was flat at $0.8422.
The pair hit an 11-month high against the U.S. dollar of $0.8479 earlier in the day after Reserve Bank of Australia Governor Glenn Stevens said that a normal interest rates would be well above the current rate of 3 percent.
U.S. DATA AWAITED
Markets awaited a final reading of euro zone consumer prices later in the day, which are expected to show that inflation risks continued to fall in July.
With few additional events and data due in the European session, analysts awaited readings of U.S. CPI, industrial production and consumer sentiment later in the day to better gauge whether the economy is improving.
A smaller-than-expected fall in July U.S. payrolls released last week had prompted some speculation that the worst of the weak U.S. employment situation had passed.
This had boosted the dollar, and paused the recent trend for better-than-expected economic data to trigger rallies in stock markets and other risky assets to the detriment of the U.S. currency.
Some analysts said Friday's figures, particularly an upside surprise in the U.S. CPI, may boost the dollar if they suggest the economy is improving, which in time would require the Federal Reserve to raise rates from essentially zero.
"Most people are expecting a subdued CPI number, and this would not affect the Fed outlook," said Johan Javeus, chief currency strategist at SEB in Stockholm.
"But should there be a surprise on the upside, making people expect that the Fed may have to move sooner than the market is pricing in right now, it would be positive for the dollar."
U.S. core CPI due at 1230 GMT is expected to rise 0.1 percent in July versus a 0.2 percent increase in June. A reading of industrial production in July is due at 1315 GMT, while a reading of consumer sentiment will be announced at 1355 GMT.
The Fed earlier in the week held rates at zero-0.25 percent and said they would stay there for an extended period, while added the U.S. economy was showing signs of levelling out following the deepest financial crisis in decades. (Editing by Victoria Main)