The euro rose 0.1 percent to $1.1204 EUR=,
with the dollar steady .DXY as the gap between short- and longer-dated
U.S. government bond yields held close to recent 10-year lows hit on
signs inflation is likely to remain subdued.
Investors
greeted the election last year of U.S. Donald Trump as likely to lift
inflation, and with it U.S. interest rates but price rises have remained
stubbornly subdued.
The Federal Reserve raised rates this month for the second time this year and has said it expects to raise again later this year. Futures imply only a 50 percent chance of a further hike by December.
Fed Chair Janet Yellen speaks on London on Tuesday and investors will be on alert for any clues to the rate outlook, after mixed views from other Fed officials in recent days.
European Central Bank President Mario Draghi speaks on Monday, ahead of a meeting of central bankers in Portugal later in the week.
The yen dipped 0.2 percent to 111.43 per dollar JPY= while sterling GBP=D3, on the up since more Bank of England policymakers have either called or said they are likely to call for higher interest rates, rose 0,1 percent to $1.2741.
A major cause of lower inflation globally has been a fall in oil prices in recent weeks on signs an agreement by producers in the Organization of the Petroleum Exporting Countries is failing to curb a global glut of crude.
Brent crude LCOc1, the international benchmark, rose 59 cents or 1.3 percent to $46.13, buoyed by the weaker dollar. Oil prices are down around 13 percent since late May.
Dollar weakness also lifted copper. The industrial metal CMCU3 rose 0.4 percent to $5,823 a tonne, just shy of its highest since early April.
Gold, however, fell sharply, with traders citing anxiety ahead of U.S. economic data duiker later this week ECONUS.
The Federal Reserve raised rates this month for the second time this year and has said it expects to raise again later this year. Futures imply only a 50 percent chance of a further hike by December.
Fed Chair Janet Yellen speaks on London on Tuesday and investors will be on alert for any clues to the rate outlook, after mixed views from other Fed officials in recent days.
European Central Bank President Mario Draghi speaks on Monday, ahead of a meeting of central bankers in Portugal later in the week.
The yen dipped 0.2 percent to 111.43 per dollar JPY= while sterling GBP=D3, on the up since more Bank of England policymakers have either called or said they are likely to call for higher interest rates, rose 0,1 percent to $1.2741.
A major cause of lower inflation globally has been a fall in oil prices in recent weeks on signs an agreement by producers in the Organization of the Petroleum Exporting Countries is failing to curb a global glut of crude.
Brent crude LCOc1, the international benchmark, rose 59 cents or 1.3 percent to $46.13, buoyed by the weaker dollar. Oil prices are down around 13 percent since late May.
Dollar weakness also lifted copper. The industrial metal CMCU3 rose 0.4 percent to $5,823 a tonne, just shy of its highest since early April.
Gold, however, fell sharply, with traders citing anxiety ahead of U.S. economic data duiker later this week ECONUS.
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