LONDON — The dollar hit a 15-year low point against the yen and dropped versus the euro on Monday after a meeting of the Group of 20 finance ministers avoided specific targets on currency devaluations. In London trade, the dollar was at 80.50 yen compared with 81.34 late in New York on Friday. In Asian deals, the dollar had hit 80.41 yen -- the lowest level since April 1995. The European single currency meanwhile rose to 1.4035 dollars from 1.3949 dollars on Friday. Investors resumed selling the greenback after Group of 20 economies agreed to avoid tit-for-tat currency devaluations but did not set specific targets, analysts said. After all-night talks among their senior officials, G20 finance ministers forged an agreement in South Korea to "refrain from competitive devaluation of currencies" and aim for "more market-determined exchange rate systems". "Since the statement, which was released on Saturday, the market has sold dollars and bought risky assets with relish," noted Kathleen Brooks, analysts at online traders Forex.com. Jittery financial markets were looking for a strong stand from G20 members against beggar-thy-neighbour currency policies, in the leadup to the November 11-12 summit in Seoul. US Treasury Secretary Timothy Geithner on Saturday said the United States backed a "strong dollar". Market players are also pushing the dollar down amid speculation that Tokyo may not be able to step into markets so soon after the G20. Two years after the world's worst financial crisis since the 1930s erupted, a super-loose US monetary policy is hammering the dollar, leading to uncomfortably strong currencies for other G20 economies. The Federal Reserve is widely expected to ease its credit grip further at a policy meeting next week. The United States is pushing China to allow its currency to rise and reduce its huge trade surplus. Japan, South Korea, Brazil and Indonesia among others have intervened unilaterally in recent weeks to curb the alarming rise in their currencies, which is hurting their exporting companies. Meanwhile the British pound traded mixed amid rising expectations that the Bank of England will shortly announce fresh stimulus measures aimed at propping up Britain's recovery from recession. In London, the euro changed hands at 1.4035 dollars against 1.3949 dollars late in New York on Friday, at 112.98 yen (113.48), 0.8920 pounds (0.8893) and 1.3620 Swiss francs (1.3640). The dollar stood at 80.50 yen (81.34) and 0.9704 Swiss francs (0.9774). The pound was at 1.5733 dollars (1.5683). On the London Bullion Market, the price of gold climbed to 1,345.40 dollars an ounce from 1,322.50 dollars an ounce late on Friday.

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