The dollar closed lower on Monday (October 12th) after a day of light, choppy trade.At the start of the day's trading, the dollar had strengthened against the yen, extending gains seen at the end of last week, but later surrendered this position.Movements in the global reserve currency - which also fell against the euro - were made more dramatic by the unusually light volume of trade that accompanied the US Columbus Day holiday yesterday.Joe Manimbo a currency trader Travelex Global Business Payments in Washington, told Reuters that the light volumes meant that big trades had a larger effect on the currency than would normally be expected.He added: "It's a quiet start to the week, given the holiday, and the market is positioning for some of the financial earnings."Both Goldman Sachs and JP Morgan Chase are due to publish their third-quarter results later this week, with traders keen to see signs of growth from the two financial powerhouses.