The dollar index rose to 98.4 on Monday, rebounding from the near two-month lows touched last week, as traders entered the first full week of May amid rising oil prices and escalating tensions in the Strait of Hormuz. Investors are also looking ahead to several speeches from Fed officials and a slate of key economic data releases, including the closely watched jobs report. The US Treasury is widely expected to maintain the size of its quarterly refunding at $125 billion. On the data front, the US economy is projected to have added around 60K jobs in April, marking a sharp slowdown from 178K in March. Markets currently expect the Fed to keep the federal funds rate unchanged for the remainder of the year, although the probability of a 25bps rate hike in December stands at around 15%. Meanwhile, traders remained alert to the risk of intervention by Japanese authorities to support the yen, particularly amid holiday-thinned trading conditions in Japan.