The European market session saw the US dollar trade mixed against most major currencies, while the yen traded to a fresh 24-year low.
For the first time since 1998, the yen traded weakly at around 141.80 against the US dollar.
The Bank of Japan's (BOJ) insistence on maintaining a very loose monetary policy continues to widen the gap with other major central banks that are pursuing more aggressive tightening.
Turning to the US dollar, the king of currencies fell slightly against the euro and the pound even as fears of a recession and high gas prices weighed on both currencies.
The euro was trading steady again after touching a new 20-year low following Russia's action that still shuts down the Nord Stream 1 gas pipeline.
It was initially closed for maintenance which was later claimed to be due to an oil leak. But on Monday, the Kremlin said it would not resume as long as Western sanctions were not lifted.
Meanwhile, the pound gained some support from Liz Truss's victory as UK prime minister, where stimulus measures by the new administration are seen to spur the Bank of England (BOE) to further raise interest rates.
Following Asian currencies, the Aussie and New Zealand dollars slipped lower even after the Reserve Bank of Australia (RBA) raised interest rates at its latest meeting.
Investors' focus is now focused on the publication of US ISM survey service PMI data in the New York session which is expected to record slightly slower growth in August.
