Investors started the European session on a more cautious note, seeing the US dollar remain trading stronger at 5-week highs than its main rival.
US inflation data to be released on Tuesday is now the focus of investors who forecast consumer prices to decrease to 6.2% in January from 6.5% previously.
Before that, let's see what happened on the currency market during the European session.
The yen fell further against the greenback amid expectations that the Japanese government will formally nominate Kazuo Ueda on Tuesday (14 February) as governor of the Bank of Japan (BOJ).
In addition, Japan's Upper House of Parliament also scheduled confirmation hearings on candidates for the new BOJ governor and his two deputies on February 27.
Meanwhile, Australian central bank (RBA) Governor Philip Lowe reportedly met with a group of banks last Thursday to discuss the possibility that interest rates may rise further around the Federal Reserve's (Fed) current level of 4.5%-4.75%.
Even so, the Aussie dollar did not show any significant movement following the report, instead remaining at the lowest level.
Looking at the movement of European currencies, the euro and the pound continued to trade lower pressured by the stronger US dollar.
Important for the pound this week is the release of employment data on Tuesday, and UK inflation on Wednesday.
The Canadian dollar held steady at a one-week high on support from stronger-than-expected jobs data in January.
