Cautious statements by William Dudley (the Fed representative) pressured the US currency. Dudley called for a cautious and gradual approach towards the interest rate hike.
No important news were published on Monday. Traders focused their attention on the Bonds Market dynamics which sent strong "bearish" signals: the 10-year German government bonds yield fell. The pair EUR/USD is trading in a flat.
The UK published some macroeconomic data, the weak data did not allow the bulls to return to the market. The industrial production volume for February decreased by 0.3%, in addition the index recorded a decrease of 0.1% for the first two months of the year. The same index in the USA for the same period showed an increase by 0.1%. Although the difference was small, still it was not in favor of the British currency. However by the end of the trades the pair GBP/USD strengthened.
Bearish sentiment within the USDJPY is very strong. The trading is defined by "risk appetite". The pair closed the trades with a decrease.