TOKYO (MarketWatch) -- The dollar gained against the yen in Asian trading Monday, buoyed by reports of a lifeline for an ailing U.S. specialty finance firm, but it slipped against other major currencies. "News that CIT were in a tentative deal with a bondholder group in securing a $3 billion rescue package lifted investor sentiment," said Sue Trinh, senior currency strategist at RBC Capital Markets, in emailed comments. 1201101009080 09SNFAJ CIT Group Inc. has reached a $3 billion rescue-financing agreement with key bondholders that will allow the business lender to avoid bankruptcy and to restructure outside court. See full story on CIT. The dollar bought 94.63 yen, up from 94.33 yen in late North American trading on Friday. Yen trading was light due to a national holiday in Japan. The dollar index (DXY 79.23, -0.14, -0.17%) , which tracks the greenback against a trade-weighted basket of six major currencies, was at 79.211, down from 79.475 late Friday. The euro changed hands at $1.4165, up from $1.4119 late Friday, while the British pound bought $1.6399, up from $1.6357.

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