Investing.com - The dollar eased against the yen on Monday after breaching the 102 mark earlier to hit the highest level in more than four-and-a-half years.
USD/JPY pulled back from 102.16, the pair’s highest since October 2008, to hit 101.59 during late Asian trade, dipping 0.02%.
The pair was likely to find support at 100.53, Friday’s low and resistance at 102.16, the session high.
The dollar was higher against the yen earlier after a weekend meeting of finance ministers from the Group of Seven industrialized economies refrained from criticizing Japan over policies which have resulted in a weaker yen.
The G7 said Japan’s policies are aimed at spurring growth in the domestic economy and not at weakening the yen.
The dollar remained broadly stronger amid speculation over a possible near-term exit from the Federal Reserve’s asset purchase program after recent strong U.S. employment data indicated that the economic outlook is improving.
Elsewhere, the yen was trading close to three year lows against the euro, with EUR/JPY dipping 0.03% to 131.95. The euro was little changed near one month lows against the dollar, with EUR/USD edging down 0.03% to 1.2984.
The eurogroup of euro zone finance ministers were to hold talks in Brussels on Monday, while the U.S. was to release official data on retail sales later in the trading day.
