The dollar was lower against the euro and yen early Monday, pushed down by cross-trading impact after the euro struck an 11-month low against the yen. Overnight Federal Reserve Chairman Alan Greenspan reiterated his view that it was in China's best interests to loosen the yuan's peg to the dollar, but that such a move might not greatly reduce the U.S.' current account deficit. In recent trades the euro was up 0.2% at $1.2282 and the dollar down 0.2% at 106.68 yen.