The dollar clawed higher on Monday, boosted by big losses in Asian stock prices as the currency market shrugged off the Group of Seven economic powers repeating a call for more flexible exchange rates. Japan's benchmark Nikkei stock average losts nearly 4 percent on worries about U.S. growth and strained relations between Japan and China, prompting some traders to buy back short positions. Some analysts said Snow's comments may be a response to congressional threats on China to loosen its currency peg. A bill in the U.S. Senate would slap tariffs on Chinese goods if the country does not relax its peg of 8.28 yuan per dollar. The dollar edged as high as 108.07 yen versus 107.80 yen in late U.S. trade on Friday, it changed hands at around 107.90 yen. The euro was down about 0.2 percent at $1.2890 /still well above a two-month low of $1.2766 hit last week.