The dollar index , which tracks the currency against six peers, gained 0.15% to 102.64. It has fallen for the past two sessions, and is set for a 2.1% monthly fall, a victim of the market ructions induced by problems in the banking industry.
She added that currency markets had been struggling to fix onto a particular trend in the recent volatility. The yen hit its strongest in roughly two months against both the dollar and the euro last week, benefitting from a flight to safety, but Foley said the market could be seeing less need for a safe haven this week.
"U.S. bond volatility has driven most of the volatility in dollar-yen, so it makes sense that we're closer to 130 than 140 because U.S. yields are that much lower," said Ray Attrill, head of foreign-exchange strategy at National Australia Bank.
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