Doha: The US dollar was on the defensive on Monday but remained on track for its biggest monthly gain in nearly a year, due to tension in the Gulf and ahead of jobs data that could shape the Federal Reserve's rate path. The euro was flat at $1.1387 after hitting a 13-month low against the dollar last week, and was on track for a 2.3% monthly decline. Sterling traded 0.1% lower at $1.3198 and was down 2% for the month.

According to Qatar News Agency, the risk-sensitive Australian dollar fetched $0.6885, down 0.1% in early trade and heading for a 4.1% monthly decline. The New Zealand dollar was little changed at $0.5635, down 5.9% for the month. The Japanese yen last traded at 161.75, continuing to languish near a 40-year low.

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was a shade higher at 101.36. It is now on track for a 2.5% gain for June, which marks the biggest monthly advance since July 2025.