The euro jumped to a more than three-week peak versus the dollar on Monday and sterling rose to the highest this month as European Central Bank officials pushed the case for further aggressive monetary tightening.
The greenback idled not far from a two-week low ahead of key U.S. inflation data this week that might allow the Federal Reserve to consider whether to slow the pace of rate hikes at its Sept. 21 policy meeting.
Investors are wary ahead of Tuesday's U.S. CPI report, even as Fed officials continued their hawkish rhetoric on Friday, the final day for such comments before a black-out period leading up to the Federal Open Market Committee's deliberations. The dollar was flat at 142.71 yen , following its retreat from a 24-year zenith at 144.99 from Wednesday.
"A coordinated effort is needed and right now with major central banks fighting inflation through tighter policy, global official support for JPY seems unlikely," Rodrigo Catril, a strategist at National Australia Bank, wrote in a note.
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