Dollar Rebound Driven by Rising Oil Prices and Inflation Anticipation

The US dollar has seen a slight increase from its two-month low against major currencies on Monday. This uptick can be attributed to rising oil prices and the anticipation of this week's US inflation data release.

Investors are looking for clarity on the Federal Reserve's future rate policies, which has led to a 0.06% rise in the dollar index. The euro weakened marginally at $1.1551, maintaining its near-record strength since mid-June.

The sterling remained steady at $1.3486, while the yen depreciated to 158.30 per dollar, undoing part of its intervention gains. Oil prices have surged, with Brent futures hitting $85 per barrel amidst tensions in the Strait of Hormuz.