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The U.S. dollar traded weak against most of its major rivals on Monday, amid growing speculation that the Federal Reserve is unlikely to hike interest rates anytime in the foreseeable futures.
Traders were also looking ahead to the minutes of the Federal Reserve's March meeting for further clues about the central bank's policy stance.
The dollar index was down 0.33 points or 0.34%, at 97.05, after falling to a low of 96.98.
Ahead of the European Central Bank's meeting this week, the euro strengthened, recovering from previous week's losses.
The Euro was trading at $1.1262, gaining about 0.4%.
In economic news from Europe, Eurozone investor confidence strengthened for a second straight month to its highest level in four months, according to survey data from the behavioral finance research group Sentix.
According to data released by the Federal Statistical Office, Germany's exports and imports declined more-than-expected in February at the fastest pace in a year.
Exports fell a calendar and seasonally-adjusted 1.3% month-on-month, preliminary figures showed. Economists had forecast a 0.4% drop.
The decline was the first in three months and the biggest since February 2018, when shipments shrunk 2.3%.
Imports decreased 1.6% in February, which was more than double the 0.7% slump economists had forecast.
On a year-on-year basis, exports increased 3.9% following 1.7% rise in the previous month. Imports climbed 5.1% after a 4.9% rise in January. Both exports and imports grew for a second straight month.
Meanwhile, the Bank of France has retained its growth forecast for the first quarter of the year at 0.3%.
The survey data from the bank showed that the business confidence indicator in manufacturing industry was steady at 100, while it was expected to rise to 102.
The sentiment indicators for services and constructions sectors were unchanged at 101 and 106, respectively.
Manufacturers expect the activity to grow at the same pace in April, while services firms and constructors are looking forward to an acceleration in growth, the survey said.
The British Pound Sterling advanced as well with markets focusing on British Prime Minister Theresa May's likely moves to convince the EU to buy time for Brexit.
According to reports, May is hoping to re-start stalled Brexit negotiations with her chief political rival Jeremy Corbyn later today.
EU leaders are due to meet at a summit on April 10, where Mrs May will be expected to present her new deal.
The U.S. dollar weakened to 1.3064 against the pound, losing about 0.21%.
Against the Japanese yen, the dollar was declining 0.19%, with a unit of greenback fetching to 111.50 yen.
Data released by the Ministry of Finance showed Japan had current account surplus of 2,676.8 billion yen in February, exceeding expectations for a surplus of 2,633.5 billion yen following the 600.4 billion yen surplus in January.
Exports were down 1.9% on year, while imports skidded an annual 6.6%. The trade surplus came in at 489.2 billion yen, shy of expectations for 591.3 billion yen but up from the 964.8 billion yen deficit in the previous month.
The adjusted current account showed a surplus of 1,957.6 billion, beating forecasts for 1,920.9 billion yen and up from 1,833.0 billion yen a month earlier.
A report from the Cabinet Office showed Japan consumer confidence weakened to the lowest in three years in March, falling to a seasonally adjusted score of 40.5, from 41.5 in February. Economists had expected the reading to remain unchanged.
The USD/CHF pair was trading at 0.9989, with the dollar losing about 0.14%.
Against the Loonie, the dollar was down more than 0.5% at 1.3313, while against the Aussie, it was up 0.3% at 0.7127.
