The U.S. dollar fell to a two-week low in the mid-100 yen level Monday in Tokyo as investors were disappointed by a Group of Seven financial leaders' statement issued after their one-day meeting Friday stating explicit concern about recent volatile currency movements.

At 5 p.m., the dollar was quoted at 100.53-56 yen against Friday's 5 p.m. quotes of 100.95-101.05 yen in New York and 101.80-82 yen in Tokyo.

The dollar moved between 100.45 yen and 101.51 yen, changing hands most frequently at 101.42 yen. It last hit the mid-100 yen level in Tokyo on April 1.

The euro traded at $1.5783-5786 and 158.70-74 yen against late Friday's quotes of $1.5805-5815 and 159.63-73 yen in New York and $1.5825-5827 and 161.10-14 yen in Tokyo.

The dollar briefly rose to the mid-101 yen level in the morning and remained firm against the euro as some investors pinned their hopes on possible joint intervention in the foreign exchange market by monetary authorities after the G-7 financial leaders changed the wording regarding the currency market in their statement for the first time in over four years, dealers said.

"Since our last meeting, there have been at times sharp fluctuations in major currencies, and we are concerned about their possible implications for economic and financial stability," the joint statement said.

Full article here.