Investing.com - The dollar slipped lower against the yen on Monday following the release of weaker-than-forecast data on Japanese fourth quarter growth, while recent soft U.S. data also weighed.
USD/JPY touched 101.39, the lowest since February 6 and was last down 0.13% to 101.69.
The pair was likely to find support at 101.25 and resistance at 102.15.
Demand for the safe haven yen was boosted after official data on Monday showed that Japan’s gross domestic product expanded 0.3% in the final three months of 2013 and grew 1.0% on a year-over-year basis.
Market expectations had been for quarterly growth of 0.7% and an annual increase of 2.8%.
The dollar remained under pressure after data on Friday showed that U.S. manufacturing output unexpectedly fell in January as inclement winter weather acted as a drag on growth.
Elsewhere, the yen almost unchanged against the euro, with EUR/JPY dipping 0.01% to 139.38.
Demand for the euro continued to be underpinned as Friday’s better-than-expected euro zone fourth quarter growth data eased concerns that the European Central Bank could tighten monetary policy at its next meeting.
The euro zone economy expanded 0.3% in the three months to December and expanded 0.5% from the same period a year earlier.
Germany’s gross domestic product rose 0.4% in the fourth quarter, ahead of expectations for 0.3% growth, while France avoided falling back into a recession, posting growth of 0.3%.
EUR/USD touched highs of 1.3724, the strongest since January 24 and was last up 0.07% to 1.3702.