According to The Wall Street Journal, the dollar was steady versus the yen, at 101.87. The pound gained 0.2 percent against the Japanese currency, to 173.00, while the euro climbed 0.1 percent higher against the yen, to 136.90.
Later in the week, there will be a flood of economic indicators. Japan will report jobless and retail sales data, while on Thursday the euro zone releases data on consumer prices and unemployment. Meanwhile, in the U.S., the preliminary second-quarter gross domestic product growth estimation is set for release Wednesday, followed by the conclusion of the Federal Open Market Committee's meeting later in the day and the July jobs report on Friday, reports the Wall Street Journal.
Aroop Chatterjee, chief FX quantitative strategist at Barclays said, "People are willing to sit on the sidelines for the next few weeks."
In Japan, there have been recent shows of slower progress toward the 2 percent inflation target set by Bank of Japan's governor, Haruhiko Kuroda. One of the predominant reasons for the overall rise in inflation towards the 2 percent target since 2012 has been a weakening yen, which fell 20 percent in 2013, according to Market Watch.
The BoJ says it won't end asset purchases until inflation expectations hold steady at around 2 percent on a sustainable basis, which seems unlikely for another 12 months.
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