This week, the dollar began lower on higher than expected inflation in New Zealand despite concerns about gas supplies to Europe.

The euro last bought $1.0094. Traders are holding their breath ahead of Thursday, when gas is expected to resume flowing through the Nord Stream pipeline from Russia to Germany after a scheduled maintenance shutdown. Upside expectations firmed a bit in Australia and New Zealand after data was released Monday showing that New Zealand inflation hit a three-decade high last quarter. It's worth noting that the greenback has soared this year thanks to a combination of rising U.S. interest rates and faltering economies in Europe and China. It pushed above parity against the euro for the first time in nearly 20 years last week, before pulling back.