Caution sets in after US dollar's best weekly rise

London

THE US dollar steadied on Monday after posting its biggest weekly rise so far this year as wariness about US tax reform plans and a spike in oil prices to two-year highs prompted investors to take profit.

The US dollar briefly popped to an eight-month high against the Japanese yen in Asian trade but, with last week's US jobs data having been relatively underwhelming, London-based traders were a bit more cautious.