5 February 2007, 17:30  The dollar is lower versus the yen

The dollar is lower versus the yen early Monday amid speculation that finance ministers and central bankers from the world's seven leading industrialized nations may debate yen weakness at a meeting this week. Japanese national broadcaster NHK reported Monday that the meeting of the Group of Seven will discuss the recently weak yen, although meeting participants themselves have so far made no such announcement. The euro and the dollar both fell against the yen after the report was aired, with the euro falling to an intraday low of Y155.88 - its lowest mark in eight days - while the dollar dipped as low as Y120.52 overnight. During the New York session, the only data that may give the market some trading direction is a U.S. report on nonmanufacturing activity from the Institute for Supply Management. It's due out at 10:00 a.m. EST (1500 GMT), and economists are forecasting a slight rise from the previous month.

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