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Tokyo - The dollar eased on Wednesday as traders remained on edge after a China stock market plunge this week and as the Federal Reserve wound up a two-day meeting, with hopes of some guidance on its plans for raising interest rates.
In Tokyo the dollar was at ¥123.43, against ¥123.56 in New York late on Tuesday.
The euro changed hands at $1.1060 and ¥136.73 compared with $1.1058 and ¥136.64 in US trade.
The greenback came under pressure this week as a more than 11% fall in Chinese stocks in two days renewed fears of another rout in the markets of the world's number two economy, sending investors running for safer investments.
"Yen-buying sentiment can appear from time-to-time a risk-averting option," said Shinya Harui, a forex analyst at Nomura Securities.
The yen is considered a safe investment in times of uncertainty.
"But the yen's further gain is unlikely as a strong dollar is still a long-term direction," Harui said.
"Trading is also rangebound as players refrain from taking positions ahead of a Fed statement and GDP figures," he added.
While the Fed's policy committee is not expected to announce a rate cut on Wednesday, dealers will pore over its latest statement to see if it gives any clues about when it will begin a lift-off, with expectations for either September of December.
The US government is also scheduled to release economic growth figures for April to June on Thursday.
