Forex-Dollar steady before US inflation data; yen under pressure

The euro EUR= was up 0.1% against the dollar at $1.1392 and sterling GBP= gained 0.09% to $1.3358.

Meanwhile, Federal Reserve Governor Christopher Waller said rates may need to rise "in the near term" if data shows inflation remaining well above the central bank's 2% target.

A core CPI reading of 0.3% or higher would likely imply, depending on PPI data due later in the week, that the Fed's preferred core PCE deflator is also running at 0.3% or above, said Ray Attrill, head of FX strategy at National Australia Bank, in a podcast.

"That may well be a trigger for a Fed rate hike as early as the July meeting," Attrill said.

Economists' median estimate for the June core CPI was 0.2% growth month-on-month.

Fed funds futures are pricing in about 43 basis points of rate hikes by the U.S. central bank this year, according to LSEG data.