Asian session review: Dollar is up for the month

The dollar is poised for its biggest monthly gain since May, reclaiming its status as a haven while Switzerland and Japan boost efforts to weaken their currencies.
The greenback has appreciated 1.2% in August against a basket of currencies.
Demand for U.S. assets is rising even though the Federal Reserve has pledged to keep its benchmark interest rate near zero through mid-2013 and Standard & Poor’s cut the nation’s credit rating from AAA. The two other currencies considered havens in times of financial and political strife - the Swiss franc and yen - are under siege by their governments and central banks after strengthening to records.
“The dollar is a buy through the end of the third quarter,” Nick Bennenbroek at Wells Fargo & Co.. “The yen and the Swiss franc are very expensive and the dollar is very cheap and it’s the only major central bank that is not standing in the way of a currency advance.”
Meanwhile, slowing growth in the U.S. and the Fed’s pledge to keep its target rate for overnight loans between banks at a record low of 0% to 0.25% until mid-2013 may constrain the greenback.
Citigroup lowered its 2011 U.S. growth estimate to 1.6% from 1.7%.

EUR/USD rose from $1.4464 to $1.4550 before retreated to $1.4513.
GBP/USD rose from $1.6340 following the euro and printed session highs on $1.6410.
USD/JPY holds within the Y76.55/Y76.80 range.

UK financial markets are closed Monday in observance of Summer Bank Holiday.
US data include personal income/spending at 12:30 GMT.