The dollar found support just below last week's peaks on Monday as renewed concerns about China's property sector and looming U.S. labour data put investors in a cautious mood.
The euro dipped back below $1.16 and at $1.1595 is not far from last week's trough at $1.1563. The yen edged higher to 110.99 per dollar. Sterling, the Aussie and kiwi all eased a fraction and the offshore yuan fell 0.3%.
"It's part of the wall of worry," he said, which the market could eventually "climb" if the COVID backdrop improves, growth stabilises and inflation concerns subside, but which for now is keeping investor sentiment fairly dour. "The question is whether there is a number that alters the Fed's view on tapering its bond purchases in November, and what a really weak or hot number means amid the backdrop of rising stagflation fears," said Pepperstone's head of research, Chris Weston.
Swaps markets show a 97% probability of a rate hike in New Zealand on Wednesday and a 96% chance of another one in November.
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