Dollar Steadies ahead of US Inflation Data

The dollar consolidated against other major currencies on Monday as traders waited for US inflation data that could help determine whether the Federal Reserve could lower borrowing costs in 2024. The dollar index, which measures the US currency against a basket of six others, was little changed at 105.31, following its first weekly rise in three weeks last week. The dollar was holding at 155.80 yen, after touching its highest since May 2 at 155.965. The euro was also little changes at $1.0795, while sterling was flat at $1.2522 before labor market data on Tuesday. China's offshore yuan eased 0.1% to 7.2412 while the onshore yuan fell to its lowest since April 30 at 7.2414. Source: Qatar News Agency