FILE PHOTO: U.S. One dollar banknotes are seen in front of displayed stock graph in this illustration taken

The dollar fell for 3 weeks as traders waited for signs of slowing growth.

The dollar traded against a basket of currencies on Tuesday near a three-week low, with investors awaiting US employment figures later in the week for clues to the timing of the cuts in the measures.

The US currency has been in a tight spot since Federal Reserve Chairman Jerome Powell said at the Jackson Hole conference on Friday that the US central bank may cut its bond-buying program this year, but without giving a specific timetable.

Analysts said US employment figures, due for release on Friday this week, will be closely watched.

Powell clarified Friday that the Fed believes the test of “incremental significant progress” has been met for inflation but not jobs, and that jobs data will therefore remain key to the outlook. Monetary policy, MUFG analysts said in a note.

Traders said Tuesday’s trading is also likely to be driven by month-end inflows from companies in import and export transactions.

The dollar index fell a quarter of 92.456 percent, its lowest since August 6.

The euro rose 0.4% against a noticeably weaker dollar, hitting a three-week high of $1.18370.

Little changed after official data showed that inflation in the euro zone reached its highest level in a decade this month, with consumer prices in the 19 euro-participating nations rising 3%.

The British pound reached a two-week high of $1.38010, before falling back below $1.38.

The yen broadly settled at 109.945 per dollar.

The New Zealand dollar strengthened nearly 1% $0.70685, a day after the country’s Prime Minister, Jacinda Ardern, partially eased restrictions outside Auckland.

The Chinese yuan fell offshore against the dollar, but stabilized largely after the survey of factories and the service sector.

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“The decline in the non-manufacturing PMI reflects the impact of the coronavirus. But infections in China have already peaked and fallen,” said E Kaku, chief strategist at Nomura Securities.

In the cryptocurrency, bitcoin gained 0.8% at $47,369, offsetting some of the previous day’s losses.

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