Dollar Hits Two-Month Low as Inflation Data Looms

The US dollar hovered near its two-month low against major currencies on Monday as investors waited for this week's inflation data to gauge the Federal Reserve's rate path.

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

The yen remained firm at 157.90 per dollar, having given back some intervention-driven gains but still far from the roughly 164 multi-decade low hit late last month.

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