The dollar fell from a seven-week high against the yen on Thursday as U.S. bond yields declined and as investors speculated the Federal Reserve will take a more cautious approach toward reducing its stimulus next week.
The euro was little changed against the dollar, recouping losses it made after data showing an unexpected decline in U.S. jobless claims and a contraction in euro zone industrial output.
Analysts said the dollar could remain under pressure going into the Fed’s meeting next Tuesday and Wednesday. Uncertainty about the timing and pace of Fed action grew after last week’s disappointing U.S. August employment report.
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