Dollar Loses Momentum

The dollar’s rally stalled late Monday, as a bout of profit-taking in U.S. and European dealings weakened earlier gains in Asia and left the currency little changed.

“Today’s been pretty much a non-event,” said John McCarthy, a foreign exchange manager with ING Capital Markets Inc.

In Tokyo, there were unconfirmed rumors the Bank of Japan was buying dollars at 94 yen. That helped the dollar surpass the five month high it hit against the yen Friday in New York.

But the dollar started losing ground during European trading, narrowing its gains. It ended unchanged against the mark and barely down against the yen.

Exchange Currency in Dollars Dollar in foreign currency Canada .7346 1.3612 France .2024 4.9415 Germany .6978 1.4330 Great Britain 1.5715 .6363 Italy .000624 1602.00 Japan .010696 93.49 Mexico .162920 6.1380