The dollar slightly declined on Monday in anticipation of a week filled with macroeconomic events that could provide further insights into the global interest rate outlook. The focus will be on a U.S. inflation reading.

The core Personal Consumption Expenditures (PCE) price index, favored by the Federal Reserve as a key inflation indicator, is scheduled for Thursday, and analysts anticipate a monthly increase of 0.4%.

This week, inflation data for the eurozone, Japan, and Australia will be released, in addition to a rate decision from the Reserve Bank of New Zealand (RBNZ) and Purchasing Managers' Index (PMI) surveys in China.

The dollar index that gauges the greenback versus its major pairs slumped by 0.2% at 103.74.

EUR/USD edged up by 0.3% at $1.0854, following gains versus the greenback in eight of the previous trading sessions.

ECB officials have restated their emphasis on inflation within the eurozone, specifically highlighting the service sector and wage growth.

GBP ticked up by 0.2% to $1.2696.

The yen muted at 150.57 per dollar, having already slipped over 6% against it this year.