Investing.com - The dollar gained ground against the yen on Monday as investors attention turned to the upcoming Federal Reserve policy meeting later in the week.
During European morning trade, the dollar pushed higher against the yen, with USD/JPY climbing 0.75% to 94.86.
The dollar recovered after falling to four month lows against the yen last week when the Bank of Japan disappointed expectations for further stimulus measures.
The BoJ’s lack of action as well as fears that the Fed will soon start to scale back its asset purchasing program boosted the yen and sparked a broad based sell-off in risk assets.
Investors were looking ahead to the Fed’s rate statement on Wednesday amid uncertainty over the bank’s next move.
The dollar was trading close to four month lows against the euro, with EUR/USD inching up 0.02% to 1.3345.
Official data on Monday showed that the euro zone posted a smaller than forecast trade surplus of EUR16.1 billion in April. Exports fell by 0.8% from a month earlier, while rose by 0.5%.
Elsewhere, the greenback was steady close to four month lows against the pound, with GBP/USD easing up 0.06% to 1.5712.
The dollar pushed higher against the Swiss franc, with USD/CHF rising 0.19% to 0.9224.
The greenback was lower against its Australian, New Zealand and Canadian counterparts, with AUD/USD rising 0.45% to 0.9614, NZD/USD advancing 0.52% to 0.8083 and USD/CAD falling 0.25% to 1.0150.
Earlier Monday, a report showed that the Westpac index of consumer sentiment in New Zealand rose to 116.6 in the second quarter, from 110.8 in the previous quarter, the highest level since June 2010.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged up 0.08% to 80.89.
