The dollar kicked off the last week of November on the back foot while sterling held near an over two-month high on an easing economic gloom in the UK, as traders eyed fresh economic cues in the week ahead to determine the future path of policy rates.

A postponed OPEC+ meeting, data from the Federal Reserve's favoured measure of inflation alongside inflation readings in the euro zone and Australia fill this week's calendar, which will also see a rate decision from the Reserve Bank of New Zealand (RBNZ) and Chinese PMI data.

Sterling was last 0.06% lower at $1.2598, but hovered near Friday's over two-month peak of $1.2615, on data last week showing that British companies unexpectedly reported a marginal return to growth in November after three months of contraction.

The pound was on track for a roughly 3.7% gain for the month, its largest monthly gain in a year, aided by a falling U.S. dollar.

The Australian dollar likewise stood near a roughly three-month high and last bought $0.6578, ahead of domestic inflation data on Wednesday.

The dollar index , which was last 0.08% higher at 103.51, was headed for a monthly loss of 3%, its worst performance in a year.

The weakening greenback provided some respite for the Japanese yen, which sat on the stronger side of 150 per dollar and last stood at 149.52 per dollar .

Elsewhere, the euro slipped 0.03% to $1.0930, but did not stray far from an over three-month peak of $1.09655 hit last week.

Source : Reuters