By Cornelius Luca
New York, March 5 (BridgeNews)
The greenback extended its solid gains versus yen despite the fact that Japan's ruling coalition parties defeated the no-confidence motion versus Prime Minister Yoshiro Mori's Cabinet. Dollar/yen hit a 6 1/2-week high of 119.77.
The dollar also advanced against the major European currencies. Volume might be negatively impacted by a two-day winter storm in New York City.
* * * Both euro/dollar and euro/yen slipped within Friday's ranges. Sterling/dollar is virtually unchanged within an inside range as well, while dollar/Canada extended its Friday's decline.
The U.S. traders are likely to focus on February Challenger monthly layoff report. The intraday outlook is slightly dollar-bullish versus euro and yen.