US$ steadies after record slide versus yen

London

THE US dollar recovered slightly on Monday from its biggest weekly fall in more than seven years against the yen, while losing ground against a euro helped by a solid set of manufacturing numbers from Germany.

Worries over Japanese policymakers' inability to stem the yen's rise prodded the dollar to a new low of 106.14 yen in the first hours of Asian trade, before a recovery to 106.64, 0.2 per cent down on the day.