TOKYO: Currency traders moved into the yen in Asia on Friday after weaker-than-expected US retail sales data sparked more questions about the health of the world's biggest economy.
In Tokyo afternoon trade, the greenback fetched 101.76 yen, weakening from 102.15 yen in New York Thursday afternoon.
The euro bought $1.3677 and 139.21 yen, from $1.3678 and 139.74 yen.
Data published Thursday showed that US retail sales fell unexpectedly in January, but some economists blamed bad winter weather in part for the drop.
Sales contracted 0.4 percent and the prior two months' numbers were revised lower. The Commerce Department report raised questions about the strength of the US economy, which is heavily dependent on consumer spending for growth.
Weaker-than-expected first-time jobless claims data also stoked questions about the US recovery, sparking a move into the yen which is seen as a safe-haven unit in times of turmoil.
A strong retail sales result could have indicated that recent soft jobs data was mostly weather related and given the Federal Reserve's policy board more room to further reduce its stimulus programme when it meets in March.
However, US stocks defied the disappointing data to make modest gains, with the Dow Jones Industrial Average finishing up 0.40 percent to 16,027.59.
"Market sentiment was, perhaps a little surprisingly, positive despite weaker-than-expected US retail sales and weekly jobless claims, as well as another political episode in Italy in which current PM Letta is ousted," Credit Agricole said.
"The focus today will be on the preliminary estimates of Eurozone GDP growth."
The eurozone growth data comes after European Central Bank board member Benoit Coeure hinted at fresh moves to support the bloc's struggling economy as industrial output fell more than expected in December.
Investors were also keeping an eye on news that China's inflation rate held steady at 2.5 percent year-on-year in January.
The dollar was mostly lower against Asia-Pacific currencies.
But the greenback fell to 11,920 Indonesian rupiah from 12,055 rupiah on Thursday, to 44.83 Philippine pesos from 44.92 pesos, and to 32.53 Thai baht from 32.60 baht.
It also sank to Sg$1.2652 from Sg$1.2674, and to 1,063.28 South Korean won from 1,065.55 won while inching up to 62.35 Indian rupees from 62.28 rupees.
The Australian firmed to 89.94 US cents from 89.37 cents, while the Chinese yuan edged down to 16.75 yen from 16.80 yen.
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