In reading, fixation durations are longer when the eyes fall near the center of words than when fixation occurs toward the words' ends-the inverted-optimal viewing position (I-OVP) effect. This study assessed whether the I-OVP effect was based on the fixation position in the word or the fixation position in the visual stimulus. In Experiments 1-3, words were presented at variable locations within longer strings of symbols. On trials with short fixation durations, there were effects of fixation position in the string. When long fixations were made, there were effects of fixation position in the word. In Experiment 4, an I-OVP effect was found for meaningless number strings, and its strength depended on the task's processing demands. The findings show that (a) the I-OVP effect is unrelated to orthographic informativeness and (b) the eyes are not constrained to spend more time at the center of visual stimuli. These results support a perceptual-economy account: Fixations are held longer when the eyes are estimated to be at locations in words/stimuli in which greater amounts of information are anticipated. Implications for eye movements in reading are discussed.