The dollar has changed against the euro and the yen on Tuesday, but the greenback’s gains held in check amid persistent concerns over the outlook for the U.S. recovery.
EUR/USD fell 0.07% to 1.3682, easing back from the five-week high of 1.3698 set on Monday. The pair was likely to find support at 1.3640 and resistance at 1.3725.
The euro remained supported after preliminary data on Monday showed that the annual rate of inflation in the euro zone remained unchanged at 0.5% in June, easing pressure on the European Central Bank to announce fresh monetary easing measures. It was the ninth consecutive month in which the inflation rate was below 1%. The ECB targets an inflation rate of close to but just under 2.0%.
The dollar edged higher against the yen, with USD/JPY rising 0.12% to 101.44, not far from Monday’s six-week low of 101.22.
