Dollar hits 1-mth high vs yen; oil under $124

The U.S. dollar rose to a one-month high against the yen on Monday on easing fears about the world's largest economy, and Asian stocks were mixed as financial sector uncertainty lingered ahead of a slew of company earnings.
European stocks were expected to open slightly lower, down between 0.1% and 0.4%, according to financial bookmakers.
Oil prices below $124 a barrel provided some comfort on global economic growth prospects, but a profit warning from Australia's third-biggest bank, which forecast more than $1 bln in write-downs, cast a pall on the region.
Japan's Nikkei share average edged up 0.1% after U.S. economic data spurred hopes for the country's enfeebled export sector.
However, Honda Motor Co shares fell 2.9% and slowed the index's advance after the auto maker cut its annual earnings outlook on Friday, leaving investors uneasy ahead of results this week from Sony Corp, Nintendo Co Ltd, Sumitomo Mitsui Financial Group and Mizuho Financial Group.
"Solid moves in U.S. stocks and a softer yen are supporting the market, but investors are finding it difficult to buy due to a large amount of uncertainty," said Yutaka Miura, deputy manager of the equity information department at Shinko Securities in Tokyo.
Outside Japan, shares in Asia-Pacific were down 0.2% after hitting a three-week high last week, according to an MSCI index.
Australia's benchmark S&P/ASX 200 index slid 0.8%, led by Australia and New Zealand Banking Group, whose shares dropped 9.4% after it said its annual earnings per share would likely fall as much as 25% because of costs associated with bad loans.
Hong Kong's Hang Seng rose 0.3%, with gains in CNOOC Ltd and Sinopec Corp curbed by a decline in HSBC Taiwan's markets were closed due to a typhoon.
JPMorgan asset allocation strategists warned global equity markets could come under renewed pressure before the summer is over after the relief rally fades and the economic reality that the euro zone, Japan and Britain are on the brink of recessions sinks in.
"Stocks are getting support from U.S. earnings that are coming in better than expected outside of cars and banks, and the record number of underweight positions. This will likely nudge major indices up in coming weeks, just as happened in the January and April reporting season, but the rally will then probably peter out from mid-August on, as attention focuses again on economic risks," they said in a weekly note sent to clients.