The dollar was steady against major currencies on Monday, hovering below recent multi-month highs ahead of key U.S. data this week.
The possibility that U.S. interest rates will rise at a faster pace has spurred the dollar on this month, and markets will scrutinise minutes of the Federal Reserve's March policy meeting, due on Tuesday, for clues on the outlook for rates.
But the focus is returning to structural imbalances in the U.S. economy, with the trade gap for February, also due on Tuesday, forecast to be the second largest on record.
"There is a bit of a waiting game for the trade data tomorrow, and the minutes will be critical as there is a lot more focus these days on what the Fed is saying," said Daragh Maher, senior currency strategist at Calyon.
The dollar was fetching about 108.22 yen at 0740 GMT, little changed from late U.S. trade on Friday, but less than one yen below five-month highs around 108.90 set last week.
The euro was also flat at $1.2925 , compared with two-month lows just below $1.28 set last week.
The euro steadied against the yen at 139.84 after hitting a four-week high of 140.26 in Asia.
The euro zone government debt market faces a busy round of supply this week, with up to about 20 billion euros of expected offerings, often a focus for Japanese investors.
Euro zone finance ministers meet in Luxembourg on Tuesday, with European Central Bank President Jean-Claude Trichet due to attend at around 1600 GMT.