Stocks retreat, as yen hits 20-year dollar low

While investors worry over decades-high inflation, the Bank of Japan (BoJ) has decided against hiking interest rates to combat surging prices, weighing on the country's currency.

The yen also hit a seven-year low against the euro, with the single currency benefitting from expectations that the European Central Bank will soon embark on its own rate-tightening.

Sydney's stock market closed down more than one percent Tuesday after the Australian central bank announced a bigger-than-forecast rate hike to quell inflation.

London equities steadied approaching the half-way stage after British Prime Minister Boris Johnson survived a vote of no confidence from his own Conservative MPs.

The pound -- seen as a better indicator of UK economic health and political stability -- dropped versus the dollar and euro.

- Key figures at around 1030 GMT -
London - FTSE 100: FLAT at 7,609.50 points

Frankfurt - DAX: DOWN 0.9 percent at 14,517.59

Paris - CAC 40: DOWN 0.8 percent at 6,496.82

EURO STOXX 50: DOWN 0.9 percent at 3,803.78

Tokyo - Nikkei 225: UP 0.1 percent at 27,943.95 (close)

Hong Kong - Hang Seng Index: DOWN 0.6 percent at 21,531.67 (close)

Shanghai - Composite: UP 0.2 percent at 3,241.76 (close)

New York - Dow: UP 0.1 percent to 32,915.78 (close)

Dollar/yen: UP at 132.69 yen from 131.88 yen late Monday

Euro/dollar: DOWN at $1.0681 from $1.0699

Pound/dollar: DOWN at $1.2514 from $1.2528

Euro/pound: DOWN at 85.35 pence from 85.37 pence

Brent North Sea crude: DOWN 0.1 percent at $119.35 per barrel

West Texas Intermediate: DOWN 0.3 percent at $118.19 per barrel