One dollar bought 116.08 yen, compared to 115.72 at Friday's close. The dollar had taken a battering against the yen last week. The PBOC's Yi Gang said that expectations for further depreciation in the USD to yen ratio have slackened since July as US and Chinese rates diverge further.
The sterling fell to $1.7626 from $1.7726 following a Sunday Times report that Chief Economist Bean said the Bank of Europe would not necessarily wait until spring to cut interest rates. The euro was $1.2008 from $1.2017.