The dollar fell against its chief rivals Monday, as the sting of high oil prices was rekindled with the death, early Monday, of Saudi Arabia's King Fahd. Saudi television reported that Abdullah bin Abdulaziz Al-Saud, Fahd's half-brother, will succeed him. The uncertainty surrounding any leadership change proved enough to send futures as high as $61.23 a barrel, despite assurances from the Saudi leadership of no change to oil policy. Abdullah has effectively been in charge since King Fahd suffered a stroke in 1995. Saudi Arabia is the world's largest oil exporter. The dollar is negatively impacted by the high cost of imported oil in the United States, which risks expanding the current account deficit. The current account deficit, which factors in both trade and investment flows, was at the center of a three-year U.S. dollar decline that has paused so far in 2005. In early U.S. trading, the dollar was changing hands at 111.85 yen, down 0.5% from where it stood late Friday. The yen also typically feels some pressure from of expensive oil, with Japan reliant on imports for all of its crude and its exporters sensitive to significant cuts in global spending The greenback declined 0.7% against the euro, with Europe's shared currency quoted at $1.2217. Despite higher oil prices, a recent string of data has shown a stronger global economic performance, dulling the allure of dollar-based assets. The U.S. economy had been out shining those of the other major industrialized nations, but the dollar had trouble gaining traction on upbeat reports issued last week, leading analysts to suggest that the yield advantage afforded the greenback may not matter as much to currency investors. That outlook has put added emphasis on Friday's U.S. jobs report. On the U.S. docket Monday were reports on the manufacturing sector from the Institute for Supply Management and government figures on construction spending. Asian currency plays continue to factor into broader foreign-exchange dealings, particularly in the wake of the Chinese policy move.