Versus the yen the dollar fell 0.28% to 138.36 yen per dollar, after touching its lowest against the Japanese currency in two months on Friday. ,"The FX market is front running possible normalisation of Fed policy in 2024," said Chris Weston, head of research at broker Pepperstone in Melbourne. "The question then is whether the dollar sell-off has gone too far and we are at risk of mean reversion early this week." The Swedish and Norwegian crowns continued to climb after making gains of more than 5% on the dollar last week. The Swedish crown rose 0.2% to 10.2360 against the dollar, the Norwegian crown rose instead 0.4% to 10.0160.

---

Persons: Francesco Pesole, Chris Weston, Carol Kong, Sharp, Joice Alves, Tom Westbrook, Angus MacSwan, Andrew Heavens Organizations: ING, Federal Reserve, Fed, European Central Bank, Pepperstone, U.S, New Zealand, Commonwealth Bank of Australia, dovish Bank of, Thomson Locations: SYDNEY, U.S, Germany, Europe, Melbourne, dovish Bank of Japan, Norwegian, London, Sydney