NEW YORK Jan 30 The dollar pared gains versus the yen on Wednesday after data showed the U.S. economy unexpectedly contracted in the fourth quarter, suffering its first decline since the 2007-09 recession.
The dollar briefly traded as low as 90.89 yen, according to Reuters data and was last at 91.05 yen, still up 0.3 percent on the day. Before the release of the data, the dollar was trading around 91.18 yen.
The euro was last at $1.3539, up 0.4 percent on the day, after rising as high as $1.3548 after the data.
Trending On Reuters
Prime Minister Narendra Modi has just suffered a bruising election setback, yet his party appears in no mood to compromise with the main political opposition to get stalled economic reforms back on track. Read