On Tuesday the greenback was stable versus the euro and the yen, after data showing that Chinese consumer inflation slowed to a five year low last month and as concerns over the Greek debt crisis kept investors cautious.
USD/JPY was at 118.69, off overnight lows of 118.32.
Dta release Tuesday indicated that China’s consumer price index rose by an annualized 0.8% in January, being the weakest reading since November 2009. This added to pressure on Beijing to step up measures to bolster growth in the world’s second-largest economy.
The pair EUR/USD edged up 0.11% to 1.1312, after falling to lows of 1.1269 overnight.
The single currency remained pressured adue to concerns over Greece’s future in the euro zone. Talks with the European Union over the country's debt and bailout continued. Greek Prime Minister Alexis Tsipras has said he will deliver on pre-election pledges to roll back austerity measures and reject an international bailout extension.
Instead, he is seeking a new agreement to cover Greece’s funding needs until June.
