Sharjah24 - Reuters: The Japanese yen was on the back foot on Monday, ahead of a busy policy-focused week in which inflation will be in the spotlight with a major European Central Bank meeting and U.S. consumer price data scheduled.
The dollar climbed to 130.99 yen in early trade, a fresh one-month high, and not far from last month's 20-year peak of 131.34, after gaining 2.95% last week.
The euro has also climbed on the Japanese currency and hit 140.38 yen on Monday morning, extending a seven-year high hit last week.
Barclays analysts attributed last week's softer yen to a recovery in risk assets, a rise in overseas yields, a stronger dollar and higher oil prices causing concerns about Japan's balance of trade.
The dollar index, which measures the greenback against six major peers, was at 102.1 after gaining 0.47% last week after good jobs and manufacturing data.
Top of the agenda for many traders this week is Thursday's meeting by the European Central Bank, which is expected to prepare the ground for an interest rate hike at its July meeting.
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