The greenback plunged on Monday, hovering close to two-month before major inflation figures that shall disclose more regarding Fed’s stance from interest rate cut.

The dollar index that gauges the greenback versus its major pairs slumped by 0.1% at 102.287, after experiencing a significant weekly decline of over 1% last week, it dropped to levels last observed in mid-January.

The US dollar tumbled the previous week following remarks from Fed, indicating that the central bank is poised to trim interest rate by summer.

EUR/USD ticked up by 0.1% to 1.0944, maintaining its solid status, having reached an eight-week peak, marking its most impressive weekly performance since the week ending on December 22.

GBP/USD dipped 0.1% lower at 1.2841, before the upcoming release of the latest U.K. jobs report on Tuesday, traders and the BOE are particularly attentive to wage growth, amid speculation about the potential timing of the first rate cut.

USD/JPY slipped 0.3% to 146.70, the yen has experienced a significant surge in the past two sessions, reaching an over one-month high. This rise is underpinned by increasing conviction that the BOJ is nearing the conclusion of its ultra-easy monetary policy.