SINGAPORE, March 10 (MNI) - The U.S. dollar was relatively steady against the euro and the yen in the Asian morning Wednesday, amid another session devoid of any major market moving news, although a weaker U.K. pound gave the dollar a mild boost.

Just before midday here, dollar-yen was at Y89.98 compared with Y89.96 late in the U.S. session overnight, after a Y89.83 to Y90.07 range this morning.

Euro-dollar was at $1.3597 versus $1.3590 overnight in the U.S. The pair traded between $1.3586 and $1.3612 this morning.

The pair gave up the $1.3600 mark in quiet morning trading in Asia today as sell orders from $1.3620/25 weighed down the euro-zone currency and with sterling weakness also adding to the pressure.

Rumored small buy orders at $1.3580/70 kept the pair from falling much further although intraday market action suggests little upside potential for the pair for the rest of the Asian session.

"The data flow and technical pattern continue to point to downside in the euro and sterling versus the U.S. dollar," commented RBS strategist Greg Gibbs.

"There has been little bounce in these currencies over the last week. They have the feel of consolidating after the sharp slide since November last year, in preparation for another leg down."

Cable was at $1.4963 as the morning ended, at the low end of its $1.4955 to $1.5015 range so far.

Dealers said sterling was among the active currencies this morning, trading with a heavy tone against a backdrop of growing concerns about ratings on U.K. banks and on its fiscal conditions as well as worries about coming elections, dealers said.

Cable fell to its low around midmorning with dealers pointing to profit-taking, long unwinding in crosses, most notably sterling-yen, sterling-aussie, for the move.

"The pound continues to struggle on sovereign risk concerns," Gibbs added in a daily note.

Some talk of sovereign bids around $1.4880/70 are seen providing some near-term support. Market News International's tech analysts note support below that at $1.4820/55, current base of the daily Bollinger band, and the March 2 low, respectively.

Ahead this week, a series of data releases out of the U.S. and China would be eyed for direction. In the U.S., February retail sales and preliminary University of Michigan consumer sentiment data for March, due out Friday, are seen as key.

The median estimate in a Market News International survey of economists looks for retail sales to fall by 0.2% in February, with sales likely impacted negatively by the weather. Ex-autos retail sales are expected to be flat.

Michigan consumer sentiment is expected to rise to 74.0 in March, from 73.6 in February. Estimates range from 72.0 to 75.0.

Chinese data releases include new loans, trade, exports/imports, CPI, PPI, retail sales and fixed asset investment.

iahmad@marketnews.com ** Market News International Singapore Newsroom: 65-6559 6144 **