The dollar has lost over 2.5 per cent against the yen in the last week, however the momentum took a breather allowing the dollar to make back a little ground.

GBP
The sterling dipped against the euro and the dollar after data showed British home loans falling to their lowest level in 12 months. The sterling weakened further against the euro as Nationwide revealed UK house prices falling for the first time in eight months.

USD
February gave the dollar its first monthly gain since November against the euro on speculation the Federal Reserve will keep raising interest rates. The greenback fell 0.6 per cent against the Canadian dollar as Canada's trade deficit widened.

EUR
The euro is in need of disappointing US data releases for a push above the current low rate, to regain some of its losses. Investors will be watching the European consumer confidence figure to give an indication on current inflation.

JPY
The yen extended its recent rally as heightened speculation of an imminent end to Japan's ultra-loose monetary policy led to continued liquidation of short-yen trades.

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