The U.S. dollar edged higher across the board on Monday, a day before the deadline for Washington and Beijing to strike a tariff deal and the release of a U.S. inflation report that could help determine whether the Federal Reserve lowers borrowing costs next month.

The U.S. dollar strengthened ahead of the deadline for a U.S.-China tariff deal and a key inflation report that could influence Federal Reserve interest rate decisions. A modest hawkish repricing of Fed expectations bolstered the dollar.

The steady decline of the dollar under President Donald Trump has led to a lot of hyperventilating about its role as the global reserve currency and threats posed by alternatives like the euro or whatever the BRICs have cooking.

The U.S. dollar stabilised on Monday after last week's losses, as markets await Tuesday's key U.S. CPI report for July and focus on developments in trade talks between Washington and Beijing ahead of a deadline to avoid the imposition of higher tariffs.