Agency: This week's non-agricultural data is more likely to be hot

Analysts at Monex Europe said in a note that better-than-expected non-farm payroll data on Friday could provide some support for the dollar. "We think the August data will show that the labour market remains relatively solid and the likelihood of a warmer reading is greater." That could shift the focus back to inflation risks, which are due before the Fed's September meeting. If the Fed takes inflation risks more seriously, it may not even be able to cut interest rates throughout the year. That would prompt the market to raise interest rate expectations and strengthen the dollar.