Dollar Hits Two-Month Low Ahead of Crucial US Inflation Data

The US dollar was hovering near its two-month low against major currencies on Monday as investors awaited 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 remained steady at $1.3490, close to a five-week peak.

The Japanese Yen held firm at 157.90 per dollar, having given back some intervention-driven gains but remaining far off the roughly 164 multi-decade low hit late last month.