The US dollar traded weak again when closing the curtain at the end of last week with analysts seeing profit taking activity.
The strengthening of the US dollar was seen on Thursday when the reaction to US retail sales data was published with encouraging figures, but analysts had expected the situation to be temporary.
In addition, the US housing data came in with a more gloomy figure than the forecast published in the last session on Friday.
The US dollar moved weakly again with the market still maintaining its view on the Federal Reserve's (Fed) interest rate cut at its September meeting.
Taking advantage of the situation of the re-depreciation of the US dollar, most of the major currencies in the market show a recovery in their respective values.
The Euro returned to close to its highest level of the year while the Pound surged to a 4-week high.
In fact, it also had a positive effect on the commodity market which saw the price of gold break the latest record high in history, surpassing the $2,500 level.
The focus this week will be on the minutes of the FOMC meeting and some data that gauges the health of the economies in focus in August.
At the end of the week, the market will be ready to examine the indications from the speech of the Chairman of the Federal Reserve (Fed) Jerome Powell with the start of the annual event of the Jackson Hole symposium.
