The U.S. dollar edged higher against a basket of major currencies on Monday, a day after a top Federal Reserve official made comments perceived as hawkish, while hesitation ahead of a speech from the Fed chair on Friday capped the greenback's gains.
Fed Vice Chairman Stanley Fischer said on Sunday that he thought the central bank was close to achieving its employment and inflation targets.
While the Fed's No. 2 policymaker did not address when the U.S. central bank should next raise interest rates, analysts said his comments could augur a hawkish outlook from Fed Chair Janet Yellen on Friday.
Yellen is expected to give guidance on interest rate policy in a speech at the Fed's annual meeting in Jackson Hole, Wyoming.