The dollar seems to be mired in the ¥117 range due to adverse U.S. and Chinese economic data recently released.
According to the Japan Times:
The dollar was weaker at levels slightly above ¥117.50 in late Tokyo trading Monday, following releases of poor U.S. and Chinese economic data.
At 5 p.m., the dollar was at ¥117.57-58, down from ¥117.89-90 at the same time on Friday. The euro was at $1.1315-1316, down from $1.1335-1336, and at ¥133.04-05, down from ¥133.63-68.
In the early morning, the dollar tumbled to near ¥116.60, with the yen attracting safe-haven buying amid a growing risk-averse mood following weak U.S. gross domestic product data released by the Commerce Department on Friday.To read more, go here.