The dollar rebounded against the euro on Monday after steep losses on Friday as the US government averted a potential shutdown, although the focus on the debt ceiling debate could limit the greenback's gains. A rally in the dollar was also overdue after having been sold off versus the euro for the last four months. So far in April the dollar is still down more than 2 percent.
In midday New York trading, the euro fell 0.3 percent to $1.4437, after hitting a fresh 15-month high around $1.4486 last Friday. The high on electronic trading platform EBS was $1.4485. The yen, meanwhile, was off an 11-month low against the euro and a 2-1/2-year trough versus the Australian dollar as yet another earthquake in Japan led some investors to pare bearish bets against the country's currency.
The euro was down 0.4 percent at 122.18 yen, well below its highest since May 2010 of 123.33 yen hit earlier on trading platform EBS. The Australian dollar was down 0.3 percent at 89.15 yen, having scaled a high of 90.04 yen, its strongest since September 2008.
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