The dollar fell versus major currencies on Monday after remarks by a Fed official signaled further interest rate cuts from the central bank.

Boston Fed President Eric Rosengren signaled the possibility that the central bank will reduce interest rates, saying that an economic slowdown in the coming quarters could boost the number of foreclosures in the subprime mortgage market.

The dollar was up to $1.4668 per euro from $1.4633 at 3:30 p.m in New York. The dollar fell to 110.50 yen per dollar at 3:30 p.m.

The dollar index, which compares the dollar with major currencies, was down 0.2 percent.