Dollar struggles to retain gains, option expiries bump yen up


The U.S. dollar struggled to keep gains on Monday as looming central bank decisions in Japan and Europe and vacillating market expectations for Fed rate cuts forced a pause in its data-spurred rally late last week.

Japan’s yen was the notable mover in otherwise quiet trading, as it tiptoed away from Friday’s one-month low of 148.80 to as high as 147.74. The currency has been the worst hit against the dollar this year, tumbling about 5% in a swift reversal of December’s bounce to five-month peaks near 140.

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