The U.S. dollar drifted lower on Monday after logging some gains last week, while threats of government intervention helped the Japanese yen recover mildly from recent losses.
Regional markets showed little reaction to the People's Bank of China leaving a benchmark interest rate unchanged as widely expected.
Risk appetite was dampened by increased geopolitical tensions between the U.S. and Venezuela, while markets were also on guard over renewed hostilities between Israel and Iran.
The dollar found some strength last week as soft inflation data was insufficient in convincing markets that the Federal Reserve will cut interest rates further in the near-term. Focus is squarely on December's inflation data, which analysts said will have greater bearing on interest rates.
Source: Investing.com
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