The yen was down 0.1% at 144.65 per dollar, having risen to a three-week high of 143.45 in the previous session
The dollar and yen eased on Tuesday, paring some of their safe-haven gains from the start of the week in the wake of escalating tensions in the Middle East.
Imminent U.S. rate cuts also remained at the top of investors’ minds and further pressured the dollar, though currencies were mostly rangebound on the lack of major news in the Asian session.
The yen was down 0.1% at 144.65 per dollar, having risen to a three-week high of 143.45 in the previous session on a flight to safety.
The euro and sterling gained nearly 0.1% each to $1.1172 and $1.3201 respectively, staying near their recent multi-month highs.
The Canadian dollar firmed marginally to 1.34875 per U.S. dollar, having hit a five-month high on Monday as oil prices soared.
The market is sort of taking a breather and waiting to see key data releases, according to Rodrigo Catril, senior FX strategist at National Australia Bank.
Given also that we have kind of second-tier data releases this week, it plays to the view of a sort of more range-y environment over the near term, Catril added.
Most currencies were holding near milestone highs and the dollar near its lowest level in over a year, helped by the possibility of a U.S. rate cut in September after Fed Chair Jerome Powell more or less nodded to such a move in his Jackson Hole speech on Friday.
San Francisco Fed President Mary Daly also said on Monday a quarter-percentage point cut in borrowing costs next month was likely.
Against a basket of currencies, the greenback slipped 0.03% to 100.82, staying near a 13-month low of 100.53 reached in the previous session.
