On Monday morning the U.S. dollar against most currencies is moderately higher as investors remain apprehensive about the global economy and riskier assets, at this stage the Japanese yen has been the only major currency that has able to advance against the greenback.

Dollar has pared its gains against most major currencies

In North American trading the dollar has pared its gains against most major currencies as stock futures point to a positive opening of U.S. exchanges.

Yen is well off its overnight highs

The yen is well off its overnight highs as traders digest remarks that has been made by Japanese Finance Minister Hirohisa Fujii at G20 meeting and so the investors try to get a focus on the country’s stance on currency intervention.

It seems as if the market is set to test Fuji’s anti-intervention credentials having some traders who are now looking for the dollar to fall as far as Y82.

Dollar dropped as low as Y88.23

According to EBS via CQG, in overnight trading the dollar dropped as low as Y88.23, but had recovered to Y89.64 in morning trading from Y89.76 late Friday.

Talking about the euro, it was down at $1.4655 from $1.4672 and at Y132.37 from Y131.72.

Dollar rose to CHF1.0309

The dollar rose from CHF1.0290 to CHF1.0309 whereas the pound fell from $1.5932 to $1.5882 . It touched a low at $1.5772 in earlier trading.

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