The dollar edged lower as investors awaited the release of U.S. CPI data

The dollar edged lower, but remained within a narrow trading range as investors awaited Tuesday's release of U.S. consumer price index inflation data. The dollar fell last week, mainly due to weak employment data and Milan's temporary appointment to the Federal Reserve, raising the possibility of a rate cut. Tuesday's data could show the early impact of U.S. trade tariffs on inflation. Chris Weston of Pepperstone said the market is focused on the extent to which inflation in core goods is affected by tariffs.