The king of currencies the US dollar traded steady in the Asian session after making moderate gains in the previous session.
Even so, the overall movement of the currency remained flat as investors remained vigilant awaiting important data and central bank policy meetings.
Against a basket of major currencies, the dollar index, which measures the strength of the greenback, traded at around 102.20 at the start of the Asian session.
The Aussie dollar eased slightly following retail sales data showing a contraction of 3.9% in December compared to expectations for a 0.3% drop from 1.7% growth previously.
Before the data was published, Deutsche Bank issued a forecast of a 25 basis point interest rate hike by the Reserve Bank of Australia (RBA) in February, March, May and August.
Meanwhile, the New Zealand and Canadian dollars traded little changed following the decline recorded in the previous session.
For Canadian dollar investors, Canadian gross domestic product (GDP) data will be published in the New York session which is expected to grow 0.1% in November.
Examining the movement of European currencies, the euro and the pound were each trading stable after shrinking due to the rise of the US dollar.
Data published on Monday evening appeared to fail to have an impact on the euro, seeing the German economy grow at an annual rate of 1.1% in the final quarter of 2022.
