The dollar fell to a 15-year low against the yen on Monday, drawing ever closer to its postwar record low of 79.75 yen set in 1995 as traders took a weekend G20 statement as a green light for continued dollar weakness

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The dollar dropped to as low as 80.65 yen JPY= on trading platform EBS, its weakest level since 1995 and down about 0.9 percent on the day.

The market is wary that Japanese authorities might intervene to defend the 80.00 yen level to prevent the dollar from reaching the record low, after they stepped in to sell yen on Sept.15 for the first time in more than six years.

Since then, however, the dollar has continued to fall across the board as the market has anticipated a second round of quantitative easing expected from the Federal Reserve later this year, possibly at its next meeting on Nov.2-3.