The dollar fell against other major currencies on Monday (Tuesday morning GMT ) as investors took profits following last week's announcement that the U.S. Federal Reserve will soon reduce the scale of monetary stimulus .
At 22:00 GMT (Tuesday 5:00 pm ) , the euro strengthened to 1.3695 dollars from 1.3671 dollars on Friday ( 20/12 ) .
The euro also gained against the yen , trading at 142.58 yen from 142.31 yen .
The dollar rose against the yen to 104.11 yen from 104.06 yen .
The greenback last week posted impressive gains on Wednesday and Thursday , soon after the Fed's announcement that it will cut its monthly asset purchases by 10 billion U.S. dollars from January .
Analysts said the Fed's monetary tightening measures contrast with other central banks , including the European Central Bank ( ECB ) and the Bank of Japan ( BoJ ) , which could take further measures to ease monetary policy in the next few months .
However, the dollar began to lose momentum on Friday and the trend continued on Monday .
Big bets on the dollar a few weeks ago " triggered weakening today , resulted in profit-taking on the U.S. dollar against almost all its G20 partners , " said Ravi Bharadwaj , senior market analyst at Western Union Business Solutions .
The Commerce Department on Monday released data showing U.S. consumer spending rose in November . But the report " failed to stop the decline in the U.S. currency , " said Bharadwaj .
The pound rose to 1.6352 dollars from 1.6332 dollars on Friday .
The dollar slipped to 0.8939 Swiss francs from 0.8958 francs , reported AFP .
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