The dollar firmed on Monday and distanced itself from an eight-month trough ahead of a slew of central bank meetings this week, including the Federal Reserve's, with traders keenly focused on guidance for the path of interest rate rises.
The U.S. dollar index , which measures the greenback against a basket of currencies, rose 0.03% to 101.92, edging away from last week's eight-month low of 101.50.
However, it remained on track for a fourth straight monthly loss of 1.5%, pressured downward by expectations that the Fed was nearing the end of its rate-hike cycle and that interest rates would not have to rise as high as previously feared.Moves were subdued ahead of policy meetings from the Fed, the European Central Bank and the Bank of England later this week.
"We will range trade a little bit as the market tries to assess how the central banks behave .... I think, for all three it's going to be more about what they say than what they do," said Rodrigo Catril, a currency strategist at National Australia Bank .
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