A dollar gauge weakened ahead of a key inflation report that is forecast to show inflation easing and should help inform investors on the Federal Reserve's next move. The yen hit its strongest level versus the greenback in nearly a month. The loonie is getting stronger as the majority of economists forecast another rate hike.
China signaled more economic support measures are imminent, boosting commodities and stocks.
The Bloomberg Dollar Spot Index declined as much as 0.3%, its lowest in nearly four weeks, as it tests .key trendline support; overnight hedging costs in the dollar are slightly higher compared to forward implieds as traders position ahead of the release of US CPI data Wednesday.
USD/JPY fell 0.7% to 140.33, the lowest since June 16. It's on course for its biggest four-day decline since March.
GBP/USD advances 0.3% to 1.2905 that came on the back of data showing UK wages rose more than expected to a level that Bank of England Governor Andrew Bailey said is fueling inflation
EUR/USD steady at 1.0997.
The European Central Bank can get inflation under control without causing severe damage to the economy, according to Governing Council member Joachim Nagel.
AUD/USD fell 0.1% to 0.6667
Source : Bloomberg
