The greenback ticked down on Monday as eyes are on central bank’s meeting scheduled to run this week, with the market anticipating the Fed's rate-cutting plans and the Bank of Japan maybe about to eliminate negative rates.

In addition, the central banks of the United States, Japan, Australia, Norway, Switzerland, Mexico, Taiwan, Brazil, Indonesia, the United States and Japan are scheduled to meet.

The dollar index that gauges the greenback versus its major pairs advanced by 0.1% at 104.38, it climbed by 2% during this year as the U.S. economy has performed better than anticipated, investors have reduced their wagers that the Fed will swiftly and significantly lower interest rates in 2024.

The first-rate decrease is expected to occur by June, with a 60% probability, according to market pricing, which is down from 140 basis points at the beginning of the year to 73 basis points today.

EUR/USD traded at $1.0896.

GBP/USD muted at $1.2745 before BOE’s meeting on Thursday as the central bank is projected to maintain interest rates at 5.25%.