The dollar gave back its gains as markets awaited guidance on interest rate cuts following the non-farm payrolls report.

after weak US manufacturing data was released on Monday, the US dollar continued to come under pressure, with the gains driven by safe-haven funds triggered by actions in Venezuela being given back. The US ISM Manufacturing PMI for December fell from 48.2 in November to 47.9, below the market expectation of 48.3. Investors are closely watching related economic data this week to determine the timing of the Federal Reserve's next rate cut, with Friday's US non-farm payroll report becoming the market focus. The US Dollar Index (DXY) fell 0.1% to 98.19, after once touching a nearly four-week high of 98.86.