The opening of the week is expected to be slow due to major banks being closed for Easter Monday.
However, the US dollar showed clear movement at the beginning of the Asian session this morning, continuing the previous pattern of decline.
After moving flat at the end of last week, the US dollar continued to depreciate due to the pressure of tariff threats on the United States (US) economy.
Several new economic data will be watched this week to assess the current impact of global tariff uncertainty triggered by US President Donald Trump.
The latest data this week to be published will review the health of the manufacturing and services sectors for April.
With the US dollar continuing to decline this week, the Euro currency traded up to a fresh 3-year high while the Pound is at a 6-month high.
The Euro managed to move positively despite the European Central Bank (ECB) cutting interest rates by 25 basis points at its meeting last week.
ECB President Christine Lagarde in a statement following the meeting did not give a clear indication of further monetary measures, but saw the economic outlook for the euro zone still shrouded in uncertainty.
The Canadian dollar strengthened to a 6-month high driven by a surge in crude oil prices, in addition to maintaining a weekly increase for 7 consecutive weeks.
