Dollar gains as markets await U.S. inflation data

NEW YORK/LONDON (Reuters) -The dollar edged higher against the euro and other major currencies on Monday as investors await data on U.S. inflation and retail sales this week for clues on when the Federal Reserve may begin widely anticipated interest rate cuts. The dollar index , a measure of the U.S. currency against six others, rose 0.25% to 104.23 as the market expects the consumer price index (CPI) for January – due to be released on Tuesday – to give the Fed further confidence that inflation is slowing towards its 2% target. Retail sales for last month on Thursday are expected to slip a bit to also confirm decelerating inflation and cap rising Treasury yields and the dollar’s recent strength,…