The dollar remained under heavy pressure in early New York trade, after plunging earlier in overseas action on speculation that the Bank of Japan at its monetary policy this week could hint at a tightening of rates. The dollar was off 1.2% at 117.87 yen, as the euro rose 0.02% to $1.1982. The euro last was up 0.02% at $1.1979. "A modest tightening in the nominal call rate can be expected from as early as the end of the second quarter of 2006 to prevent further falls in the real rate as inflation turns increasingly positive," said Action Economics. On Monday and last week the dollar was bolstered by expectations that it will continue to enjoy an attractive rates differential against other major currencies this year