07:46 AM EST, 01/12/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Monday ahead of a light day to start a busy week, with markets digesting Federal Reserve Chairman Jerome Powell's statement Sunday evening addressing a Department of Justice probe into renovations at the Fed's Washington, DC, headquarters.

Powell said in his statement the probe is another effort on the part of the Trump administration to control monetary policy.

There are no data releases on Monday's calendar, but Atlanta Federal Reserve Raphael Bostic is due to speak at 12:30 pm ET, followed by Richmond Fed President Tom Barkin at 12:45 pm ET and New York Federal Reserve Bank President John Williams at 6:00 pm ET.

The data schedule picks up Tuesday with consumer price index data for December as the main release. New home sales data for October and consumer sentiment data for January will also be released Tuesday.

Highlights Wednesday include producer price index data for November, retail sales data for November, existing home sales data for December and the Federal Reserve's Beige Book report.

Thursday's releases include weekly jobless claims, import data for November, and the New York Fed's Empire State manufacturing reading for January.

The New York Fed's services reading for January and industrial production data for December are due to be released Friday ahead of the holiday weekend.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD rose to 1.1684 from 1.1635 at the Friday US close and 1.1643 at the same time Friday morning. Eurozone investor confidence improved in January but still indicated overall pessimism, data released earlier Monday showed. The next European Central Bank meeting is scheduled for Feb. 5.

GBP/USD rose to 1.3465 from 1.3407 at the Friday US close and 1.3413 at the same time Friday morning. There are no UK data on Monday's schedule. The next Bank of England meeting is scheduled for Feb. 5.

USD/JPY fell to 157.8541 from 157.8821 at the Friday US close but was above a level of 157.6652 at the same time Friday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Jan. 23.

USD/CAD fell to 1.3882 from 1.3912 at the Friday US close but was above a level of 1.3879 at the same time Friday morning. There are no Canadian data on Monday's schedule. The next Bank of Canada meeting is scheduled for Jan. 28.