Currency movements remained volatile heading into the European session despite positive factors from the re-opening of markets in China after a week off.
China over the weekend pledged to encourage a recovery in consumption to spur economic growth and boost the country's imports.
This helped the yuan to trade stronger at the market open today following reports that domestic travel and spending recovered significantly over the past week.
Despite this, the Aussie and New Zealand dollars, which are sensitive to the Chinese economy, failed to show an improvement from the sentiment, instead trading lower against the US dollar.
A different movement was displayed by the euro which rose slightly at the beginning of the session, with the market's focus now on European Zone inflation data and the European Central Bank (ECB) policy meeting.
The pound remained flat amid investor caution ahead of the Bank of England (BOE) policy meeting.
Meanwhile, the dollar index, which measures the greenback's strength against a group of major currencies, remained unchanged at around 101.95.
Expectations that the Federal Reserve (Fed) will slow its rate hikes continue to limit trading in the currency king.
Markets are expected to continue to slow until the New York session due to the lack of data and key catalysts to spur significant currency moves earlier in the week.
