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The dollar slipped to a 4-day low of 100.45 versus the yen by about 3:55 am ET. The pair was worth 100.93 at Friday`s close.

While uncertainty over the state of the global economy remains high, the Bank of Japan`s policy board agreed that its basic thinking on monetary policy remained unchanged, according to the minutes from the central bank`s March 6 and 7 policy meeting that were made public today morning.

The members of the board of governors felt they must be flexible in their policy response, the minutes also showed, but that careful study of the upside and downside risks to the economy were required.

At the same time, the dollar touched lows of 1.5794 against the euro and 0.9993 versus the franc. The euro-dollar pair closed last week`s trading at 1.5810 and the dollar-franc pair at 1.0001.

France`s business sentiment dropped to 105 in March from 106 recorded in February, a survey from the Bank of France revealed Monday. Economists were looking for a reading of 106 for March. The bank maintained its GDP growth estimate for the first quarter at 0.4%. The report added that growth carried over for 2008 should stand at 1.2% at the end of the first quarter.

Against the pound, the dollar declined to 1.9746 at 2:30 am Eastern Time, compared to 1.9721 hit late New York Friday.

Traders now look forward to the British producer price index and the Euro-zone industrial production reports, which are expected shortly.