Ahead of the publication of additional economic data that is anticipated to provide more insight into the future course of interest rates, the U.S. dollar nudged up in early European trade on Monday, but it was still on track to suffer its second consecutive monthly loss.

The dollar index that gauges the greenback versus its major pairs ticked up at 101.575, but was still on track to lose 1% or less per month after falling more than 2% in March.

Later this week, the PCE price index, which is the Fed's favored inflation indicator, is also coming. It is predicted that March saw persistent inflation.

EUR/USD slipped by 0.1% to 1.0978 prior to the publication of the closely anticipated German Ifo business climate index, which is anticipated to show a slight improvement in corporate confidence in April.

GBP/USD slumped 0.1% to 1.2419.

USD/JPY grew somewhat to 134.19 ahead of the first policy meeting held by new Bank of Japan Governor Kazuo Ueda on Friday.