The dollar was little changed against the yen but lower against the euro in Asian trading Thursday morning. The dollar was trading at 109.20 yen on the Tokyo foreign exchange market by late morning, up 0.04 yen from late Wednesday but below the 109.23 yen it bought in New York later that day. The euro rose to $1.2096 from $1.2045 late Wednesday and to 132.12 yen from 131.70 yen. The dollar was trading in a narrow range in Tokyo. In New York Wednesday, the dollar hit a nine-and-a-half-month high against the euro on Wednesday amid a lingering malaise about Europe's economic and political future and improved economic figures in the United States. But investors remain cautious about the euro ahead of the European Union summit which starts Thursday. Uncertainty about an economy tend to push that currency lower. Analysts say the euro may face further declines unless the EU can bridge its differences on how to take the EU constitution process ahead and resolve pending disagreements over the budget. "There's a lingering gloom in Europe," said Lee Ferridge, chief currency strategist at Rabobank in London. "The 'no' votes against the constitution, (the question) will the ECB (European Central Bank) cut interest rates -- it's all lingering." Members of the 25-nation EU bloc are at loggerheads over the budget, coming on the heels of "no" votes to the constitution by France and the Netherlands. In Washington, American consumer prices fell 0.1 percent in May, their first decline in 10 months as energy prices retreated after a big run-up in the previous three months. The U.S. Labor Department reported that the decline in its closely watched Consumer Price Index followed big gains of 0.4 percent in February, 0.6 percent in March and 0.5 percent in April. Those increases had been driven by a surge in energy costs as crude oil prices hit all-time highs in early April. U.S. industrial production rose 0.4 percent in May -- twice what analysts had forecast -- reversing a 0.3 percent decline in April. The increase reflected a big 0.6 percent jump in output in manufacturing as auto production stopped falling and other sectors posted increases.