Paulson goes again

The dollar is slipping against the yen following the release of prepared comments from Treasury Secretary Paulson in which he said China needs more currency flexibility and that the pace of China's reforms is too slow.
The market is also reaction to news that U.S. construction spending unexpectedly fell 0.4% in December versus an expected flat reading.
Recently, the euro stood at $1.2965 from $1.2964 late Tuesday while the dollar stood at Y121.46 from Y121.59.