Currency markets are cautious at the start of a week packed with economic data releases and key central bank policy meetings.
Among the most focused of course are the meetings of the Open Market Committee (FOMC), the Bank of England (BOE) and the European Central Bank (ECB) on Thursday.
While the economic data that is the main focus of investors is the US NFP employment report on Friday and the European Zone inflation data on Wednesday.
The Federal Reserve (Fed) is widely expected to further slow the pace of interest rate hikes by 25 basis points after witnessing continued declines in US inflation data.
The BOE is predicted to increase rates by 50 basis points following inflationary pressure that is still high in the UK although it is showing signs of abating.
In addition, the ECB is also projected to increase rates by 50 basis points after several policymakers gave indications for such an increase.
Examining currency movements in the Asian session, the US dollar rose slightly compared to its main competitor with the dollar index trading around 101.95.
Even so, it has basically remained flat for the past week in line with other major currencies.
This can be seen in the movement of the euro and the pound traded almost unchanged at the beginning of the Asian session, while the Aussie and New Zealand dollar traded flat.
The market is now more wary of placing larger positions ahead of economic data and policy meetings.
