The dollar was steady on Monday as traders looked ahead to a slew of speeches from Federal Reserve officials throughout the week that could provide further clues on the U.S. rate outlook, after the central bank resumed its easing cycle last week.
Currency moves in the early Asia session were more subdued after a volatile ride last week following a raft of rate decisions including that of the Fed, the Bank of England (BoE) and the Bank of Japan (BOJ).
The yen was last 0.16% lower at 148.22 per dollar, paring its gains from Friday after a hawkish shift in the BOJ's rhetoric raised the prospect of a near-term rate hike.
Sterling, meanwhile, fell to a two-week low of $1.3458, pressured by domestic headwinds after a surge in UK public borrowing and a BoE rate decision that laid bare the challenge for policymakers in balancing growth and inflation.
"We have pushed our forecast for the next move into 2026," Jane Foley, head of FX strategy at Rabobank, said of the BoE's next expected cut.
"However, with this mostly already priced in and with the attentions of GBP investors squarely focused on the UK fiscal backdrop, we remain of the view that GBP is set to be on the back foot into the autumn and potentially beyond."
In the broader market, the dollar extended its rebound from last week's knee-jerk fall following the Fed's rate cut, rising slightly against a basket of currencies to 97.75.
The euro was down 0.07% to $1.1738, while the Aussie eased 0.02% to $0.6589.
Roughly 10 Fed officials, including Chair Jerome Powell, are due to speak this week, with investors watching closely for their views on the economy and the Fed's independence.
"There are some opportunities there for the speeches to move the currency markets," said Joseph Capurso, head of FX, international and geoeconomics at Commonwealth Bank of Australia.
"The one that I think would be most interesting for markets is the speech from Stephen Miran, because markets would want to get a gauge about what he thinks about independence of the Fed and what influence the President might have and the like."
New Fed Governor Miran on Friday defended himself as an independent policymaker after dissenting in favour of a steeper 50-basis-point rate cut at September's policy meeting, and promised to give a detailed argument for his views in a speech later on Monday.
In Asia, China on Monday kept benchmark lending rates unchanged for the fourth consecutive month in September, in line with market expectations.
The offshore yuan was little changed after the decision and last rose 0.06% to 7.1151 per dollar.
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