The dollar held firm against a basket of major currencies on Monday as markets awaited U.S. inflation data to gauge the likelihood of interest rate cuts this year.
The CME FedWatch tool shows markets are pricing in a 61.2% chance of a rate cut at the Fed's September meeting, with around 50% expected to be cut.
A base point in total.
Markets are awaiting the release of the US Producer Price Index data tomorrow, Tuesday, followed by the Consumer Price Index on Wednesday.
The dollar index, which measures the greenback's performance against a basket of currencies, was steady at 105.31 after posting a gain last week following two straight weeks of declines.
Against the yen, the dollar was steady at 155.80 after touching its highest since May 2 at 155.965 yen per dollar.
The dollar rose against the yen after losing 3% at the start of the month, its biggest weekly percentage decline since early December 2022, after two suspected interventions by Japanese authorities.
The euro was little changed at $1.07695, as the euro zone prepares for inflation data on Friday.
The pound was steady at $1.2522, while the Chinese yuan outside the mainland fell 0.1 percent to $7.2414.
In terms of cryptocurrencies, Bitcoin rose in the latest transactions by 0.68% to $60,889.51.
