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The dollar touched a one-week low versus the yen on Tuesday as investors turned cautious following news that investigators probing Russian interference in the US election had charged President Donald Trump’s former campaign manager.
The yen showed limited reaction after the Bank of Japan kept its monetary policy steady on Tuesday as widely expected, even as it slightly cut its inflation forecast for the current fiscal year.
The dollar held steady at 113.17 yen, having slipped to as low as 112.97 yen in early Asian trade, its lowest level since Oct 20, reports Reuters.
The dollar also struggled in the wake of reports that Trump was likely to pick Federal Reserve Governor Jerome Powell as the next head of the US central bank.
Against a basket of six major currencies, the dollar was steady at 94.583, down from a three-month high of 95.150 scaled on Friday.
The euro eased 0.1 per cent to $1.1635, but held above a three-month low of $1.1574 touched on Friday.
The Australian dollar was weighed down after China’s official factory PMI showed growth in its manufacturing sector cooled more than expected in October.