The U.S. dollar changed hands just below the 111 yen line in early deals in Tokyo on Monday, dropping from levels seen in New York late last week.

As markets opened here, the dollar was quoted at 110.93-94 yen compared with 111.10-20 yen in New York and 111.74-75 yen at 5 p.m. on Friday in Tokyo.

The euro, meanwhile, fetched 1.1681-1681 and 129.55-57 yen against 1.1659-1669 dollars and 129.56-66 yen in New York and 1.1638-1640 dollars and 130.05-09 yen in late Friday afternoon trade in Tokyo.