The US dollar remains cautious amid global market volatility, particularly the case of intervention for the Japanese yen, ahead of the British budget and the New Zealand policy meeting which is expected to cut interest rates.
At 9.50am, the US Dollar Index (DXY) was up 0.04% since it opened early Monday in Asian trading.
In addition, recent comments from Fed official John Williams fueled hopes for a rate cut at the December policy meeting.
The market is now pricing in a nearly 74% chance of a rate cut at the Fed's December meeting, up from 40% last week.
Takuji Aida, a private sector member of the government's panel, said the Japanese government's intervention in the currency market could mitigate the negative economic impact and prevent a runaway weakness for the yen.
The market is confident that the Reserve Bank of New Zealand will cut rates by 25 basis points on Wednesday, but is cautious about the potential for further cuts to follow next year.
This week, the immediate focus will be on clues from mixed economic signals and the delayed release of key inflation data. US PPI inflation and Retail sales data are due on Tuesday.
