The U.S. currency rose against most currencies fell against others that are also seen as safe havens, like the Japanese yen and the Swiss franc.
The dollar fell to 1.0262 Swiss francs in New York from 1.0294 francs, and to 84.68 yen from 85.37 yen. The dollar hit a 15-year low of 83.61 yen last week.
The Bank of Japan on Monday unveiled a new loan program to boost liquidity, but critics said the plan was not strong enough and the yen continued to rise.
The dollar rose against the euro, British pound and the Canadian dollar, as well as other currencies investors consider more risky.
The euro fell to $1.2671 from $1.2731 late Friday. The British pound dropped to $1.5468 from $1.5511. The dollar rose to 1.0586 Canadian dollars from 1.0525 Canadian dollars.
The week before Labor Day is busy with data releases in the U.S. and overseas.
Major reports on tap for this week are surveys on manufacturing in the U.S. and other major economies Wednesday, a decision on interest rates by the European Central Bank Thursday, a report on U.S. jobs Friday and the release of minutes Tuesday from the Federal Reserve’s meeting earlier this month.
Central banks are stepping up efforts to bolster the economy, influencing trading. Federal Reserve Chairman Ben Bernanke last week laid out steps the Fed might consider if the economy deteriorated.
Bernanke said the Fed would consider moves that could drive interest rates lower to stimulate spending. Such steps would also likely make dollar-denominated assets less attractive to investors looking for higher yields.
The Bank of Japan, meanwhile, failed to impress investors Monday with an expanded liquidity program, and the yen continued to rise. Investors are waiting to see if the government will take stronger action to curtail the yen’s rise, which hurts profits of the country’s exporters.
The government has not intervened in currency markets since 2004.
- Associated Press