The greenback continues to give back last week's gains, falling just shy of the 1.56-level and 104 against the yen. The dollar remains under pressure amid soaring oil prices, with crude oil surging to another record above $122 per barrel and fresh calls oil to reach $150 to $200 barrel over the next two years.
Markets will turn to US economic data on Wednesday, which consist of Q1 labor costs, preliminary Q1 productivity and pending home sales.
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