The greenback plunged on Monday, yet still nudged up as traders are projecting that Fed will hike the interest rate further throughout this year in response to the spike inflation that will be required to be tamed.

The dollar index which gauges the US dollar versus its major pairs, slipped by 0.1% at 105.105, inching lower than the highest level in seven weeks that was hit on Friday.

EUR/USD edged up by 0.1% at 1.0555, barely above the lowest level in seven weeks at 1.0533, with attention on the upcoming Eurozone figures on Thursday and the preliminary consumer price data from the major European economies that shall release during the middle of the week.

Expectations hover around a slip in the February’s Eurozone inflation by 8.2% from the previous month at 8.6%.

GBP/USD nudge up by 0.2% to 1.1963.

USD/JPY retreated by 0.3% at 136.08, post previously touching the highest level in two months at 136.55.