The dollar's monthlong recovery could be put to the test, first by Hurricane Gustav and at the end of the week by the U.S. jobs report.
Investors will also keep their eye on euro-zone data on growth, retail sales and manufacturing, as more signs of economic weakness may provide offsetting support for the dollar. Also on tap this week are policy-setting meetings by the European Central Bank and Bank of England.
During Monday's U.S. holiday, uncertainty persisted about Hurricane Gustav's impact on oil prices, while the dollar fell on the yen after news that Japanese Prime Minister Yasuo Fukuda resigned.
Sterling remained in sharp focus as it continued its dramatic underperformance, falling briefly through $1.80 to its lowest levels since April 2006 as confidence in the U.K. economy weakened further. The pound finished at $1.8019 from Friday's $1.8228.
The dollar finished Monday at 108.18 yen, down from Friday's 108.83, and the euro eased to $1.4606 from $1.4671.
If Hurricane Gustav, like Hurricane Katrina three years ago, were to cause an extended shutdown of offshore oil platforms and refining facilities in the Gulf of Mexico, crude-futures prices could soar. Given recent trends, this would send the dollar lower.
'The risk, of course, is that oil supplies decrease, sending spot and futures prices higher with a negative net impact for the dollar throughout the week,' said ABN Amro currency strategist Dustin Reid.
There is a feeling among traders that the extremely tight relationship between oil prices and the dollar during the past few weeks may have been a temporary phenomenon due to thin market conditions as many investors were on vacation.
'There's a chance that we shift back [this week] to trade on a wider breadth than just the price of oil,' said Tom Fitzpatrick, global head of currency strategy at Citigroup in New York. 'As we get into September, I think [investors] may take a step back and decide what they believe for the dollar' on a big-picture basis.
With this as a backdrop, analysts said the euro is likely to trade this week in a range between $1.45 and $1.49, while the dollar against the yen is likely to move between 107.50 yen and 110.75.
The dollar may also run into some trouble when the European Central Bank meets Thursday to make a decision on interest rates. Economists expect the bank will leave rates at 4.25%. The focus will be on whether bank President Jean-Claude Trichet further depresses hopes that the bank is considering rate cuts.
The yen's weeks-long trend of choppy, range-bound trading could remain intact, analysts say.
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美元长达一个月的回升可能将遭受考验，先要过古斯塔夫飓风这一关，接下来是本周末发表的美国就业报告。
投资者还将关注欧元区的经济增长&#12289;零售和制造业数据，因为更多显示欧元区经济增长乏力的数据可以反过来为美元提供支持动力。投资者本周能够炒作的题材还包括欧洲央行(European Central Bank)和英国央行(Bank of England)的政策会议。
周一是美国劳工节假日，但古斯塔夫飓风究竟会对油价产生何种影响依然是萦绕在人们心头的一个疑问，而在日本首相福田康夫(Yasuo Fukuda)辞职的消息传出后，美元兑日圆汇率出现下跌。
由于英镑急剧走软的势头依然未变，它仍然受到各方的密切关注，英镑兑美元汇率一度跌破1.80美元关口，降至2006年4月以来的最低水平，原因是人们对英国经济的信心进一步减弱。英镑收盘报1.8019美元，低于上周五的1.8228美元。
美元兑日圆周一报收于108.18日圆，低于上周五的108.83日圆，欧元兑美元则由上周五的1.4671美元跌至1.4606美元。
正在肆虐的古斯塔夫飓风如果像三年前的卡特里娜飓风那样导致墨西哥湾的海上石油钻井平台和沿岸炼油设施长时间关闭，则原油期货价格有可能飙升。鉴于近期的市场趋势，这有可能导致美元走低。
荷兰银行(ABN Amro)的货币策略师达斯汀&#149;里德(Dustin Reid)说，危险之处在于，石油供应下降将推高原油现货和期货的价格，从而对本周的美元走势产生弊大于利的影响。
交易员们有种感觉，过去几周来油价和美元汇率之间特别紧密的关系可能只是一种暂时现象，众多投资者离场休假导致市场交投清淡是其成因。
花旗集团(Citigroup Inc.)驻纽约的外汇交易策略全球负责人汤姆&#149;菲茨帕特里克(Tom Fitzpatrick)说，当投资者本周返场交易时，他们考虑的市场因素可能将不再只是油价。他认为，随着9月份的来临，投资者可能会谨慎一些，转而基于多种因素来判断美元的走势。
以此为依据，分析师们说欧元兑美元汇率本周有可能在1.45至1.49美元区间波动，而美元兑日圆汇率则有可能徘徊于107.50至110.75日圆之间。
欧洲央行本周四作出的利率决策也有可能对美元产生不利影响。经济学家们预计，欧洲央行届时会宣布继续将利率维持在4.25%的水平。人们将把关注焦点放在欧洲央行行长特里谢(Jean-Claude Trichet)届时是否会进一步打击人们对欧洲央行将考虑降息的希望。
分析师们说，日圆汇率可能将维持数周来的窄幅波动走势。
