Investing.com - The dollar slid against the safe haven yen on Monday as more weak Chinese economic data fuelled risk aversion, while the euro remained supported after strong data on German business climate.
USD/JPY hit 102.17, pulling back from Friday’s three-week high of 102.82, and was last down 0.13% to 102.36.
The yen found support after data on Monday showed that Chinese home prices fell for the first time in 14 months in January. The data added to fears that the world’s second largest economy is slowing as the government tries to tackle bad loans and weak lenders.
EUR/USD rose to 1.3770, the highest since last Wednesday, and was last up 0.03% to 1.3742.
The common currency found support after the Ifo German business climate index came in at 111.3 in February, the highest level since mid-2011, up from 110.6 in January. Analysts had expected an unchanged reading.
German firms are benefitting from high export demand the report said, but ongoing concerns over volatility in emerging markets continued to cloud the outlook.
A separate report showed that the annual rate of euro zone inflation came in at 0.8% in January, unchanged from the previous month and slightly higher than the preliminary estimate for 0.7%.
Consumer prices were down 1.1% from a month earlier, in line with forecasts.
Elsewhere, GBP/USD was up 0.19% to 1.6645, while USD/CHF inched up 0.02% to 0.8982.
The Australian dollar edged higher, with AUD/USD inching up 0.10% to trade at 0.8986, while NZD/USD was up 0.10% to 0.8288.
The U.S. dollar was almost unchanged against the Canadian dollar, with USD/CAD dipping 0.01% to 1.1107.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged down 0.06% to 80.24.
Please LIKE our Facebook page - it makes us stronger: