On Friday the dollar has shown a fall to a 7-1/2-month low beneath the key 90-yen level after the G20 pledged to continue emergency stimulus spending until a recovery takes hold, suggesting U.S. interest rates would remain very low.

Dollar fell below 85 yen

Today an influential former Japan finance official told Dow Jones Newswires that unless the dollar fell below 85 yen authorities were not likely to try halting yen gains, after that the yen also got a boost.

Sterling fall to several months low

The dollar has remained better against other currencies. Sterling has shown a fall to several months lows a day after Bank of England Governor Mervyn King said a weaker pound would help exports and the broader British economy.

Pledge from leaders from the G20 countries

The data has been overshadowed, though, there has been a pledge from leaders from the G20 rich and developing countries that they will maintain emergency economic support and eventually work together to scale back extraordinary spending.

Dollar dropped to lowest since February

After hitting 89.97 yen earlier, the dollar was last down 1% at 90.35 yen JPY=, this has been recorded as the lowest since February. The euro also dropped to 1% to 132.38 yen EURJPY=.

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