TOKYO (MarketWatch) -- The dollar climbed Monday against most of its major rivals after the Group of Eight finance ministers said over the weekend they are discussing strategies to unwind policy measures taken on in response to the economic crisis.
DXY 80.51, +0.37, +0.46%
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The ministers from the Group of Eight leading industrialized countries said Saturday that "'exit strategies,' which may vary from country to country, are essential to promote a sustainable recovery over the long term." See full story on G8 meeting.
In Asian trade Monday, the euro slipped to $1.395, down from $1.402 late in North American trading Friday.
The dollar rose to 98.38 Japanese yen, up from 98.26 yen.
"Weaker eurozone industrial production coupled with a stronger USD pushed the EUR/USD pair back below $1.40," analysts at Credit Suisse wrote in a research note Monday. For now, the EUR/USD pair is "currently locked in its trading range of $1.38 to $1.4180, with risks to the downside."
