New york: The US dollar hovered near a two-month low against major currencies on Monday as investors awaited this week's inflation data for clues on the Federal Reserve's rate path. The dollar index, which tracks the currency against six major peers, was little changed at 99.6, hovering near its lowest level since June 2.
According to Qatar News Agency, the euro edged higher to $1.1558, hovering near its strongest level since mid-June, while sterling was steady at $1.3490, near a five-week peak. Meanwhile, the yen held firm at 157.90 per dollar, having given back some intervention-driven gains but remaining well off the roughly 164 multi-decade low hit late last month.
In Asia, the New Zealand dollar and Australian dollar each slipped 0.1% to $0.7062 and $0.5889 respectively, indicating a minor decline against the US dollar. Investors are closely monitoring these movements as they anticipate upcoming economic data that could influence future monetary policies.