The dollar slipped against European currencies on Tuesday due to concerns about the impact on the oil-dependent U.S. economy from high oil prices, while the euro awaited a key German business confidence survey. The yen was under pressure as Tokyo stocks fell more than one percent due also to concerns about oil prices. Germany's IFO business climate index, due at 0800 GMT, is expected to come in little changed in May, with a brighter assessment of current activity offsetting an outlook clouded by high oil prices.
Analysts polled by expect the index to dip slightly to 96.1 in May from 96.3 in April, with forecasts ranging from 94.5 to 97.0. U.S. consumer confidence index is also due at 1400 GMT. By 0630 GMT the dollar was down around a third of a percent at $1.2041 , close to a two-week low of $1.2069 set last week. Against the Swiss franc it also slipped a third of a percent .///www.reuters.com