The dollar edged higher on Monday as investors digested a slew of monetary policy decisions by central banks last week and looked ahead to a crunch decision by the Bank of England on Thursday.

Currency market moves have been dominated by central bank efforts globally to curb high inflation, with the dollar index sliding to its biggest weekly fall since January last week after the Federal Reserve skipped a rate rise.

The dollar index , which measures the U.S. currency against six major counterparts, ticked up 0.1% to 102.400. It remained not far from a one-month low of 102.00 it touched on Friday. U.S. markets are closed on Monday for a holiday.

The euro dipped 0.2% to $1.09275, trading close to a one-month peak, while the yen was flat at 141.870, near a seven-month low of 141.980 earlier on Monday.

The pound is changing hands near 14-month highs against the dollar on expectations UK rate rises will outpace other major economies. The pound was broadly flat at $1.28175.

Source : Reuters