Dollar pares gains vs yen after soft PPI data

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The dollar pared gains against the yen and euro on Tuesday after data showed smaller than expected gains in producer prices last month, adding to the view that U.S. interest rates will stay low for some time yet.

The dollar dipped to 89.20 yen JPY= from about 89.35 yen, though it remained up about 0.2 percent from late Monday. The euro edged up briefly to $1.4890 EUR= but snapped back to $1.4878, down 0.6 percent and about where it was before the data.

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