Investing.com - The dollar was higher against the yen on Monday following a weekend statement by the Group of 20 nations and was little changed against the euro as concerns over the outlook for the euro zone economy weighed.
During European morning trade, the dollar strengthened against the yen, re-approaching two-and-a-half year highs, with USD/JPY rising 0.63% to 94.07.
The yen weakened against the dollar and the euro after a statement by the G20 avoided singling out Japan for criticism over policies which weakened its currency.
The G20 pledged to ensure that monetary policy is focused on price stability and growth, rather than on weakening currencies, following a weekend summit meeting in Moscow.
Following the G20 summit investor attention returned to the upcoming announcement of the next governor of the Bank of Japan after Governor Masaaki Shirakawa said earlier this month that he plans to step down on March 19, three weeks earlier than expected.
The dollar was little changed close to three-week lows against the euro, with EUR/USD inching up 0.01% to 1.3364.
The single currency remained under pressure after data last week showing that the recession in the euro zone deepened in the fourth quarter fuelled speculation over a possible rate cut by the European Central Bank.
Investors also remained wary ahead of the upcoming Italian general elections later this month.
The greenback was trading close to seven-month highs against the pound, with GBP/USD down 0.25% to 1.5475.
Sentiment on the pound was hit by growing concerns over the outlook for the economy after data on Friday showed that U.K. retail sales posted an unexpected decline last month.
Elsewhere, the greenback edged higher against the Swiss franc, with USD/CHF easing up 0.11% to 0.9225.
The greenback was broadly higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD edging up 0.09% to 1.0076, AUD/USD down 0.22% to 1.0287 and NZD/USD slipping 0.18% to 0.8429.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.14% to 80.66.
Trade volumes were expected to remain light on Monday, with U.S. markets remaining closed for the President’s Day holiday.
During European morning trade, the dollar strengthened against the yen, re-approaching two-and-a-half year highs, with USD/JPY rising 0.63% to 94.07.
The yen weakened against the dollar and the euro after a statement by the G20 avoided singling out Japan for criticism over policies which weakened its currency.
The G20 pledged to ensure that monetary policy is focused on price stability and growth, rather than on weakening currencies, following a weekend summit meeting in Moscow.
Following the G20 summit investor attention returned to the upcoming announcement of the next governor of the Bank of Japan after Governor Masaaki Shirakawa said earlier this month that he plans to step down on March 19, three weeks earlier than expected.
The dollar was little changed close to three-week lows against the euro, with EUR/USD inching up 0.01% to 1.3364.
The single currency remained under pressure after data last week showing that the recession in the euro zone deepened in the fourth quarter fuelled speculation over a possible rate cut by the European Central Bank.
Investors also remained wary ahead of the upcoming Italian general elections later this month.
The greenback was trading close to seven-month highs against the pound, with GBP/USD down 0.25% to 1.5475.
Sentiment on the pound was hit by growing concerns over the outlook for the economy after data on Friday showed that U.K. retail sales posted an unexpected decline last month.
Elsewhere, the greenback edged higher against the Swiss franc, with USD/CHF easing up 0.11% to 0.9225.
The greenback was broadly higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD edging up 0.09% to 1.0076, AUD/USD down 0.22% to 1.0287 and NZD/USD slipping 0.18% to 0.8429.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.14% to 80.66.
Trade volumes were expected to remain light on Monday, with U.S. markets remaining closed for the President’s Day holiday.