Dollar climbs on yen, BOJ passes baton to ECB

The U.S. dollar touched seven-year peaks versus the yen on Monday as markets basked in the afterglow of the Bank of Japan's surprise stimulus push and looked forward to at least a hint of fresh action from European policy makers this week.

The dollar came within a whisker of 113.00 yen in early trade, reaching a high not see since December 2007 and bringing into view that month's peak of 114.66. 

Read more: "In this environment of subdued growth and long-term low-flation, we expect the ECB to announce the purchase of government bonds of euro area member states by early next year at the latest,"