Dollar reverses some of rebound, shifts lower against yen, euro

The dollar was shifted lower against the yen and euro Wednesday despite a rebound from losses earlier in the day after a relatively strong reading on Chinese imports.

The dollar USDJPY, -0.25%  was changing hands at ¥107.00, compared with ¥107.37 late Tuesday in New York.

The dollar has come under downside pressure as dismal U.S. jobs data Friday has forced investors to adjust expectations about the timing of a rate increase. Federal Reserve Chairwoman Janet Yellen on Monday indicated that the central bank would hold off on raising rates until new uncertainties about the economic outlook are resolved.

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