The dollar traded on the back foot on Tuesday, as markets looked ahead to a week of key U.S. economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates.

Singapore consumer price index inflation grew at its slowest pace in more than two years in January, aided by decreasing fuel and housing costs, while tight monetary conditions saw a decline in recreational spending. 

British employers advertised the fewest jobs in nearly three years last month, with numbers down 15% from a year ago, figures from recruitment data company Adzuna showed on Monday, adding to signs that the labour market is cooling.

Asian shares stalled near seven-month highs on Monday as investors awaited inflation data from the United States, Japan and Europe that will help refine expectations for future rate moves.

Oil prices fell in early Asian trading on Monday, extending losses from the previous session after oil ended the week 2-3% lower amid market concerns that higher-than-expected inflation could delay U.S. interest rate cuts.

The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking centre stage.