The U.S. dollar struggled to keep gains on Monday as looming central bank decisions in Japan and Europe and vacillating market expectations for Fed rate cuts forced a pause in its data-spurred rally late last week.
Japan’s yen was the notable mover in otherwise quiet trading, as it tiptoed away from Friday’s one-month low of 148.80 to as high as 147.74. The currency has been the worst hit against the dollar this year, tumbling about 5% in a swift reversal of December’s bounce to five-month peaks near 140.
