Dollar Little Changed as Traders Weigh Economic Outlook

The dollar index was little changed around 103 on Monday, as investors weigh updates on the US economic performance and prospects the Fed will continue to tighten. The ISM Manufacturing PMI pointed to the sharpest contraction in factory activity since May 2020 while consumer spending released last week showed a big slowdown. The payrolls report, JOLTS and ISM Services PMI are also due this week. Meanwhile, minutes from the latest FOMC meeting due Wednesday will be keenly watched for further clues on the Fed’s next steps, with Chair Powell reinforcing last week that interest rates will continue to rise this year.