The dollar traded within narrow ranges versus its major peers as the U.S. markets remained closed for the Presidents Day holiday. The greenback against a basket of currencies traded flat at 100.92, having hit a low of 100.41 on Thursday, it’s weakest since Feb. 9

Data wise it is a slow day as both Canada and the USA markets are closed for a public holiday. For the week ahead, FOMC and RBA minutes are the main feature.

This morning, European stocks were moving further into green territory with DAX leading the way 0.7% higher. Overnight, Chinese stocks closed 1.5% higher – their daily biggest gain after 6 months. On Friday. Dow Jones added 0.02% to hit a new all-time high, while SPY added 0.17% and Nasdaq 0.41%.

Recent comments from Fed officials were generally hawkish, maintaining the general view of three rate hikes this year. And there are some comments that raised the probability of a March hike mildly.

Much of the rally in US stocks during the past week has been fueled by Trump’s recent comment promising a “phenomenal” tax reform announcement within a few short weeks.

Gold declined once again after raising till $1243.85 on Friday as the U.S dollar gained against all major pairs. It is currently trading around $1233.29.

The USD/JPY was little changed at 113.09, not far from 112.62, its lowest since Feb. 9 touched on Friday. The EUR/USD crawled up 0.1% to 1.0613 after dropping 0.6% on Friday. Elsewhere, GBP/USD was flat at 1.2414 after dropping 0.7% on Friday, after a surprise third monthly fall in British retail sales pointed to weakening consumer sentiment. The AUD/USD dipped 0.1% to $0.7670 but still in touch of a 3-1/2-month high of 0.7732 posted last week.