Risk currencies hovered above their recent lows against the dollar and the yen on Monday, as fears about slowdown in the global economic recovery appeared to have subsided for now.
The outlook for U.S. inflation and the speed of the Federal Reserve's future policy tightening are back in focus ahead of Tuesday's consumer price data and Fed Chair Jerome Powell's testimony from Wednesday.
Sterling also ticked up to $1.3900 while the Australian dollar bounced back to $0.7487 from Friday's seven-month low of $0.7410. Selling in risk currencies subsided by Friday, however, and sentiment was bolstered further after China cut banks' reserve requirement ratio across the board, to underpin its economic recovery that is starting to lose momentum.A recovery in risk sentiment hampered the safe-haven yen on Monday. The Japanese currency stood at 110.17 yen per dollar , off Thursday's one-month high of 109.535.
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