Dollar steadies ahead of US consumer price data

The US dollar held against most currencies on Monday, ahead of of the release of key inflation data in the US.

The market will turn to the release of the US consumer price index data on Tuesday, which shows inflation trends in the country.

Analysts see that the recent spike in inflation will lead the Federal Reserve to taper its monetary policy.

Fed Chairman Jerome Powell stated recently that the central bank might start reducing the size of its bond-buying program before the end of this year.

The dollar index fell against a basket of major currencies by less than 0.1% to 92.6 points as of 17:30 GMT, after hitting a high of 92.8 points and a low of 92.5 points.