The Japanese currency lost ground across the board on Monday morning in Asia. Extending its last week's downtrend, the Japanese currency tumbled to fresh multi-month lows of 89.23 against the Swiss franc, 100.60 against the US dollar, 149.81 against the pound, 82.05 against the Canadian dollar, 59.7 versus the NZ dollar and 136.23 against the euro by 7:15 pm ET. Against the Australian dollar, the yen declined to 72.24 by this time and thus came closer to Friday's fresh multi-month low.

On the economic front, Japan will provide February figures for its leading index, with analysts expecting a score of 75.3 following the 77.2 market in January. Also, the Bank of Japan kicks off its two-day monetary policy meeting and will announce any adjustments to interest rates at its conclusion on Tuesday.

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