Meanwhile, the dollar index trended lower to stand at 93.401, but remained slightly above a low of 93.302 seen overnight. The index tracks the dollar against a basket of rival currencies. The greenback was mostly flat against the Japanese currency, with the dollar fetching 110.75 yen at 8:02 a.m. HK/SIN.
With the overnight “data void” putting a damper on forex markets, traders are likely focusing on the U.S. consumer price index print due Friday before making major moves, OANDA Head of Trading APAC Stephen Innes said.
“Given the enormity of inflation metrics in the Fed’s rates outlook, I suspect traders will be reluctant to commit big views prior to the event (this Friday) and even more so given August’s sparse liquidity conditions,” Innes added.