The US dollar gained support early in the opening of the European session as markets now focus on the release of US manufacturing PMI data.
The currency king was seen recovering some of the losses recorded last Friday following lackluster personal consumption expenditure (PCE) data.
Investors are now looking for more clues to the direction of Federal Reserve (Fed) policy after Chairman Jerome Powell continued to reiterate the central bank's stance on raising interest rates.
The main focus this week will be on the release of the FOMC meeting minutes report and the US NFP employment data.
But before that, investors will be shown other key data, such as the US manufacturing PMI that will be released in the New York session later.
If a weaker reading is recorded, it could affect the movement of the US dollar, and if the opposite happens, the giant currency may gain support to remain strong.
Turning to broader currency movements, the Aussie and New Zealand dollars remained hovering around the same price despite being buoyed by better-than-expected China Caixin manufacturing PMI data.
The Reserve Bank of Australia (RBA) meeting tomorrow morning (Tuesday) is now the focus of Aussie dollar investors who are expected to see the central bank keep interest rates unchanged at 4.10%.
Meanwhile, the euro and pound fell again, pushed lower by a stronger greenback and gloomy European manufacturing PMI data.
In the meantime, the yen continues to be pushed down to its lowest level since November 2022 against the US dollar.
