Dollar Falters Ahead of Inflation Data

The US dollar has been hovering near its two-month low against major currencies as investors await this week's inflation data for clues on the Federal Reserve's rate path.

The euro edged higher to $1.1558, nearing its strongest level since mid-June, while sterling held steady at $1.3490, near a five-week peak.

The yen remained 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.

Data on Friday showed the US economy unexpectedly shed jobs in July and job gains for the prior two months were revised sharply lower, cooling expectations for a Fed rate hike next month.