The U.S. dollar declined against its most major counterparts in the European session on Monday, as investors awaited a raft of data due this week to assess the strength of the economy.

U.S. treasury yields dropped after core personal consumption expenditure index came in below forecasts in July.

Data from the Commerce Department showed that core PCE grew 3.5 percent on year in June versus economists' forecast of 3.7 percent.

Traders are awaiting all important non-farm payrolls report due later this week for more clues on the state of the labor market.

Other key data include factory orders, initial jobless claims, ADP private sector employment and the Institute for Supply Management's manufacturing and service sector PMIs.

Fed Governor Lael Brainard on Friday remarked that the U.S. job market is still a long way off from pre-crisis levels to unwind stimulus measures.

Stimulus optimism also weighed, as the U.S. Senators finalized details of infrastructure plan on Sunday.

The bill, which includes funding for roads, bridges, public transport, broadband, rail, water and airports, is expected to be approved within days.

The greenback edged down to 0.9046 against the franc and 109.48 against the yen, off its early highs of 0.9067 and 109.77, respectively. The greenback is seen finding support around 0.88 against the franc and 108.00 against the yen.

The greenback reversed from its prior highs of 1.1859 against the euro and 1.2491 against the loonie and weakened to 1.1897 and 1.2455, respectively. If the greenback slides further, 1.22 and 1.21 are possibly seen as its next support levels against the euro and the loonie, respectively.

The greenback eased off to 0.7376 against the aussie and 0.6987 against the kiwi, following its previous 5-day high of 0.7329 and a 4-day high of 0.6952, respectively. The greenback is poised to test support near 0.75 against the aussie and 0.72 against the kiwi.

In contrast, the greenback recovered to 1.3884 against the pound, setting a 5-day high. The currency may test resistance around the 1.35 region.

U.S. ISM manufacturing PMI for July and construction spending for June are set for release in the New York session.

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