The US dollar is stabilizing after a rally, while the Indian rupee is under renewed pressure. For its part, the Chinese yuan rose slightly.

The dollar held steady against all major currencies on Monday, as exuberance over an optimistic U.S. jobs report gave way to caution ahead of crucial trade negotiations between the U.S. and China ahead of crucial trade negotiations between the U.S. and China scheduled to take place in London later in day. The dollar rose against its main competitors after the release of the employment report, which cut weekly declines in the dollar index by more than half. The dollar index, which measures the value of the American currency in relation to six others, remained stable at 99.169

The Indian rupee is expected to come under further pressure on Monday after the US economy created a slightly higher number of jobs than expected, causing US Treasury yields to rise and bringing relief to the dollar.