Dollar struggles after U.S. Treasury secretary’s comments on currency wars

The dollar was moderately higher against the yen in directionless Asian trade on Monday, with investors avoiding making major moves given a lack of fresh trading cues.

The U.S. currency USDJPY, +0.03%   was changing hands at ¥108.85, compared with ¥108.65 late Friday in New York.

Investors are watching data and events this week, including January-March Japan gross domestic product data due Wednesday.

Tokyo-based dealers and analysts said a weak result will increase hopes that the government will implement extra stimulus to push up the dollar against the yen. The median forecast from a survey of 20 economists by the Wall Street Journal was for inflation-adjusted growth of 0.3%.

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