The dollar was mixed against other major currencies Monday, after a Chinese official said no timetable had been set to reform the yuan exchange rate. In Europe, the 12-nation euro initially dropped to $1.2536 in early European trading before recovering to $1.2550 -- still below the $1.2558 it was at in New York late Friday. That came amid fears the European Union constitution could be rejected by French and Dutch voters. In Tokyo on Monday, Chinese Vice Premier Wu Yi said that reforming the yuan exchange rate is government policy, but the timing of specific steps hasn't been decided yet. "There is no timetable set on when (yuan policy reform) will be carried out," Wu said. "Even without foreign pressure, once the conditions are right, we will implement reforms on our own." The Bush administration has recently stepped up pressure on Beijing to stop linking the yuan to the dollar. Polls released over the weekend also showed opponents of the EU constitution gaining strength ahead of referenda on May 29 in France and June 1 in the Netherlands.