Begin Week With Dollar Under Pressure, But Above Level Low Last Week

Dollar launch this week was under pressure on Monday, is on track for monthly loss but is still above the low levels recently as investors still keep the hope that the US jobs data to be released later this week will give the Federal Reserve Raise the reasons for the fastest rates in the months ahead.

The dollar index, which tracks the greenback against six major currencies, was at 95.86, down by 0:27% from the level on Friday and fell about 1.5% for the month. But the dollar still recorded its biggest weekly gain in a month, and still above seven-month low at 92.62 reached last week when fear of China sent global equity markets had fallen sharply.

The dollar fell about 0.4% at 121.15 yen, down about 2% for the month of August, but is still above seven-month low at 116.15 touched last week.

Seemntara The euro gained about 0.3% at $ 1.1225, below last week's highs at $ 1.1715, but still up about 2% for the month.

Investors are awaiting key data non-farm payrolls on Friday for clues whether the Fed will take a step eagerly awaited by the market to Raise interest rates. Key data from the US which will be released this week include business survey, factory orders and trade data.

One market analyst in Melbourne said that the release of the ADP employment data on Wednesday and non-farm payrolls on Friday will be key in analyzing the possibility of a rate hike in September.

Fed Vice Chairman Stanley Fischer said in his speech at the meeting of central bankers in Jackson Hole, Wyoming on Saturday that US inflation is likely to rebound when the pressure against the dollar fades, it allows the Federal Reserve to Raise interest rates gradually