TOKYO, Japan -- The dollar was mixed in subdued Asian trade Tuesday as worries about the worsening US economy offset optimism about President-elect Barack Obama's stimulus plans, dealers said.

The dollar fell to 93.16 yen in Tokyo late morning trade, down from 93.34 in New York late Monday. The euro eased to $1.3604 from $1.3632 and to 126.77 yen from 127.28.

The greenback has risen since the start of the year on hopes that the US economy will start to recover later this year, supported by Obama's spending plans.

But traders were reluctant to push the dollar up further against the yen given the prospect of another raft of gloomy US economic data this week, including key monthly jobs figures due Friday.

"On the one hand, economic fundamentals for the moment are not very impressive, which will probably be shown with the US jobs data later this week," said Hiroshi Sakurai, forex analyst at Mizuho Investors Securities.

"On the other hand, expectations are growing that US President-elect Barack Obama's stimulus plans, combined with measures by the US Federal Reserve and the Treasury, would give a boost to the ailing economy," he said.

"The outcome is there's no one-way bet and the dollar is likely to stay somewhere above 93 yen," he said.

Traders were concerned about the huge cost of US efforts to revive the recession-ridden economy.

"While President-elect Obama's massive fiscal stimulus plan is fuelling expectations that the US economy may be the first to exit recession and so providing some support to the dollar, we are wary about the long-term implications for the greenback," NAB Capital analyst John Kyriakopoulos said.

"We doubt that the US will be able to provide the required returns to foreign investors to ensure it can finance a huge increase in national debt, so the dollar will be under pressure this year," he added.

The euro remained pressured by expectations that the European Central bank will cut interest rates sharply this year to deal with the weakening economy, dealers said.

As well as US jobs data on Friday, the other key event this week is the Bank of England's monthly interest rate meeting on Thursday.

The British central bank is widely expected to slash borrowing costs to a record low level under the current 2.00 percent to boost the ailing economy.

The pound was at $1.4663, down from $1.4699 in New York.