The dollar traded sideways against major currencies on Monday, showing little movement as investors awaited fresh economic data.

Market Overview

The dollar index, which measures the greenback against a basket of six major currencies, hovered near its previous close. Trading activity was subdued as market participants digested recent economic releases and prepared for upcoming data.

Currency Performance

• Euro: The euro traded near $1.34, showing minimal change against the dollar.
• Japanese Yen: The dollar remained stable against the yen, trading around ¥123.50.
• British Pound: Sterling saw slight fluctuations but ultimately traded near $2.00 against the dollar.

Economic Outlook

Analysts suggest that the dollar’s near-term performance will largely depend on upcoming economic data, particularly figures related to inflation and employment. Strong data could support the dollar, while weaker figures may weigh on its value.