The dollar held steady on Monday as investors waited warily on news of U.S. trade policy and braced for a week packed with economic data that may give a first glimpse of whether U.S. President Donald Trump's trade war is hitting home.

At 143.69 yen and $1.1325 per euro the dollar has, for now, found a footing, while staying on course for its largest monthly fall in nearly 2-1/2 years as Trump has rattled confidence in the dependability of U.S. assets.

It is down more than 4% on both the euro and the yen through April, though bounced at the end of last week on an apparent conciliatory shift in the tone of U.S.-China relations.

Last week, both sides seemed to soften their respective stances, with the Trump administration signalling openness to reducing tariffs and China exempting some imports from its 125% levies.

Yet where Trump insists there has been progress, and that he has spoken with President Xi Jinping, Beijing has denied trade talks are occurring and on Sunday, Treasury Secretary Scott Bessent did not say that tariff talks were under way.

"The next big chapter here will be whether all this volatility has hit real-world decisions - especially in the U.S. jobs market," said ING's global head of markets, Chris Turner.

That has investors waiting on April U.S. jobs figures, due on Friday, where jobs growth is still expected, although at a sharply slower pace from a month earlier.

Fed officials including Chair Jerome Powell have indicated they would be willing to cut rates if it becomes clear there are risks to growth. But most appear content to first determine what impact Trump's tariffs have on real-economy metrics such as inflation and employment before making a move.

Source: Reuters