On Monday, the greenback touched its peak versus the Japanese yen in over a year, closing in on the crucial psychological level of 152. However, after a frenzy of activity in $3.45 billion of options that are due this week, the currency plummeted suddenly.

Prior to this, Japanese Finance Minister Shunichi Suzuki declared that the government would continue to watch the currency market and take necessary action. Compared to the dollar this year, the yen has dropped by over 14%.

The consumer price index (CPI) and other U.S. figures are expected to read softly during the next three days, which should relieve pressure on the declining value of the Japanese yen.

The dollar index that gauges the greenback versus its major pairs steadied at 150.75.

USD/JPY hit a peak at 151.92 yen, its highest level in a year, and then slumped to 151.20 minutes following the peak price. Lately edged up by 0.14% at 151.74.