The suffering of the US dollar does not seem to be over yet when investors were shown the continued decline of the currency king at the opening of the European session.
Against most major currencies, the dollar index, which measures the greenback's strength, was trading lower at around 110.55, worse than Friday's late-trade drop.
Last week, the US dollar was disappointed by the reading of the US NFP employment data which showed signs of a slowdown in the labor market as the unemployment rate rose higher.
With the US dollar falling in the European session, the euro and the pound surged higher to take advantage of the giant currency's weakness.
The euro edged higher as prices moved towards $1 parity, while the pound sterling was firmer at 1.1430 against the US dollar.
Over the weekend, UK Chancellor of the Exchequer Jeremy Hunt is preparing to announce £60 billion in tax increases and spending cuts.
Also showing gains were commodity-related currencies, the Aussie and New Zealand dollars which in the previous session were gloomy following the news from China which is still continuing its zero Covid-19 policy.
The Canadian dollar also traded stronger at a one-month high against the US dollar and was also supported by stronger oil trades.
