Dollar fell on Monday after hitting highs for 10 consecutive days as U.S. Trump administration is expected to follow fiscal policies which will lead to interest rate hikes.

The reports of an earthquake in Japan weighed on the greenback against the safe-haven yen and strengthened the euro and other currencies. The single euro zone currency rose to session highs after the earthquake news.

Late on Monday, the Japan Meteorological Agency said an earthquake with a preliminary magnitude of 7.3 hit northern Japan, and it issued tsunami advisories for much of the nation’s northern Pacific coast.

2011 Japan’s earthquake boosted then yen by 7 percent the first few days after the quake on increased repatriation flows.

Once the Asian markets knew that the damage from the earthquake was limited, the dollar recovered as the markets rebounded.

In late trading, the dollar fell from six-month highs against the yen to trade 0.1 percent lower at 110.80 yen.

Taking the Thursday off the trading week because of the U.S. Thanksgiving Day holiday, analysts say, there is nothing can happen that could change expectations that the Federal Reserve will raise interest rates in December, something which is considered supportive to the dollar.

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