The greenback USDJPY, -0.11% hit ¥109.46 last week, its highest since August 2008, as investors bet a stronger U.S. economy would eventually prompt the Federal Reserve to raise interest rates. A wider difference in interest rates between the U.S. and Japan typically strengthens the dollar against the yen.
The dollar was at ¥108.79 compared with ¥108.90 late Friday. In early Asia trade, it rose as high as ¥109.16 due in part to solid bids related to half-year book-closing trades by Japanese firms ahead of the end of September.
The euro EURUSD, +0.17% was at $1.2860 from $1.2837. The WSJ Dollar Index BUXX, -0.12% , a measure of the dollar against a basket of major currencies, was down 0.25% at 76.72.
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