The dollar edged lower Monday, trading near one-month lows as investors continue to assess the likelihood of U.S. rate hikes in the near term, while the Turkish lira slumped following a surprise rate cut and heightened political tension. Weighing on the dollar were comments from Federal Reserve Chair Jerome Powell on Friday indicating that it’s not yet time to begin raising interest rates. The central bank is widely expected to begin reining in its bond-buying program next month, but investors have also priced in Fed rate hikes starting in the second half of next year.
The direction of the AUD/USD early Monday is likely to be determined by trader reaction to the pivot at .7463.
German business sentiment figures put the EUR in focus, with BoE member chatter leaving the Pound in the hands of any forward guidance.