Investing.com - The Aussie was a tad higher Monday in early Asia with a light regional data day ahead and markets shut in Japan for a holiday and in Greece, a return of a government led by Alexi Tsipras in alliance with Independent Greeks (ANEL).
AUD/USD traded at 0.7190, up 0.03%, while USD/JPY changed hands at 120.04, up 0.02%. EUR/USD traded at 1.1286, down 0.11%.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was quoted up 0.07% to 95.43.
Last week, the dollar regained lost ground against most of the other major currencies on Friday, rebounding from multi-week lows hit in the previous session in the wake of the Federal Reserve’s decision to hold off from hiking interest rates.
The greenback sold off sharply after the U.S. central bank left short-term interest rates unchanged on Thursday, amid concerns over soft inflation and the effects of recent market volatility on the U.S. economy.
The Fed said it wanted to see "some further improvement in the labor market," and be "reasonably confident" that inflation will increase before hiking rates.
While the decision was not completely unexpected the Fed’s concerns over the uncertain outlook for global growth rattled financial markets and pressured the dollar lower.
In the week ahead, investors will be turning their attention to Wednesday’s index of manufacturing activity from China and surveys on private sector activity from the euro zone for a fresh indication on the strength of the global economy.
Market participants will also be closely watching a speech by Fed chair Janet Yellen on Thursday.
Canada is to publish data on wholesale sales. Later in the day, Bank of Canada Governor Stephen Poloz is to speak at an event in Calgary.
The U.S. is to release a report on existing home sales.