TOKYO - The dollar was rangebound in Asian trade on Tuesday amid jitters over the global economy and this week's summit of the Group of Eight (G8) economic powers, analysts said.

The dollar was changing hands at 95.32 yen in Tokyo morning trade, almost unchanged from its level of 95.33 in New York late on Monday.

The euro bought 1.3977 dollars, compared with 1.3979 in New York, while edging down to 133.23 yen from 133.32.

The greenback had briefly fallen below 95 yen in New York, the lowest level since late May, as the Japanese currency benefited from increased risk aversion following last week's dismal US employment report.

"The dollar is moving in a narrow range" in Tokyo although it recouped some ground from below 95 yen partly due to purchases by Japanese importers, said Masato Otsubo, currency analyst at Resona Bank.

The dollar and yen generally do better in times of economic uncertainty compared to currencies like the euro that are seen as riskier.

Market players are now "looking to what will come out of the G8 summit," Otsubo said.

"There is caution that talks on the dollar as an international reserve currency would trigger dollar selling," he said.

China said last week that it wanted a broader global monetary system, ahead of President Hu Jintao's departure for the G8 summit, which starts Wednesday.

China is not a member of the G8, which groups Britain, Canada, France, Germany, Italy, Japan, Russia and the United States -- but is regularly invited to join enlarged sessions at the annual summit, along with other major nations.