The dollar remained under pressure for a fourth day on Monday, but backed away from an earlier 20-month low against the euro as comments from France's finance minister cooled last week's lightening euro rally. French finance minister Thierry Breton said that vigilance would be needed on the dollar's weakening and the euro would be discussed with EU finance ministers later in the day. The euro was still seen keeping the upper hand, however, having also spiked to a record peak against the low-yielding yen with analysts citing positive sentiment about the euro area's interest rate outlook compared with that of the United States. "The Ecofin and the comments from the French finance minister may have contributed to a little bit of a more measured tone," said Tim Fox, FX strategist at Dresdner Kleinwort. "(But) our sense is that the dollar will come under more pressure. We've moved a long way in a short space of time and the interesting aspect is that we are not pulling back significantly at all," he added. The euro was propelled above the psychological $1.30 level for the first time since April 2005 on Friday by factors including a robust German business survey, concerns about central banks diversifying their reserves away from dollars, and a narrowing U.S. interest rate advantage. The moves were exacerbated by thin liquidity caused by holidays in Japan and the United States on Thursday.