The dollar declined from seven-year highs against the yen on Monday after Japan’s economy fell into recession during the third quarter.
Official data showed that Japan’s gross domestic product contracted by 0.4% in the third quarter, and by 1.6% on annual basis.
The unexpectedly weak data directly affected the yen and the Japanese equities sending them to their lowest level in three months on Monday.
Focus this week remains on the dollar ahead of Federal Reserve’s meeting minutes on Wednesday.
The Japanese yen capped its losses against the U.S. dollar and dropped 0.32% to 115.92 at 9:43 GMT.