The euro is rising and the Japanese yen is falling against the dollar as trading slows in advance of the Independence Day holiday in the U.S.
Most other currencies were trading in a narrow range on Tuesday.
The euro edged up to $1.2598 as borrowing costs for Spain fell, a sign that its debt might be under slightly less pressure.
The dollar has risen to 79.890 yen from 79.490 yen on Monday. Analysts say the yen is under pressure because of political issues in Japan, including an unpopular tax being pushed by the prime minister.
The dollar also gained slightly against the British pound.