Singapore, July 07 (QNA) – The US dollar steadied after recent losses on Tuesday, while the Japanese yen hovered near a four-decade low, keeping investors on alert for possible intervention by Japanese authorities to support the currency.

The yen rose 0.2% to 161.75 per dollar, recovering part of its earlier losses but remaining close to last week’s 40-year low of 162.84. Against other major currencies, the yen fell to its weakest level against sterling since 2007 at 217.20 before trimming losses, while the euro traded at 184.99 yen after gaining 0.5% in the previous session.

In broader currency markets, the dollar traded in a narrow range as investors pared expectations of further US Federal Reserve interest rate hikes following a weaker-than-expected US employment report.

The euro edged down 0.06% to $1.1434, while sterling climbed to a more than two-week high of $1.34005 before easing slightly.

The US Dollar Index, which measures the greenback against a basket of six major currencies, was little changed at 100.90.

Elsewhere, the Australian dollar fell 0.26% to $0.6938, while the New Zealand dollar was little changed at $0.5700. (QNA)