Forex Pros –The U.S. dollar was down against most other major currencies on Monday, following the release of mixed European economic data and amid persisting fears over Europe’s debt crisis. The greenback was down against the euro, with EUR/USD climbing 0.31% to hit 1.2311. Earlier Monday, an index of executive and consumer sentiment in the euro zone fell in May to 98.4 from 100.6 in April, the European Commission in Brussels said. Economists had predicted the level would hold steady. Meanwhile, the greenback was down against its Canadian counterpart on Monday, with USD/CAD gaining 0.98% to hit 1.0442. The dollar was also down against sterling, with GBP/USD climbing 0.44% to hit 1.4522. Earlier Monday, Britain's coalition government sought to reassure markets that the appointment of the relatively inexperienced Danny Alexander as Treasury chief secretary would not hamper efforts to slash the massive U.K. budget deficit. The dollar slid against the Swissy, with USD/CHF shedding 0.28% to hit 1.1559. The dollar also fell against the Aussie, with AUD/USD shedding 0.2% to hit 0.8470. The dollar climbed to a fresh 7-day high against the yen on Monday, with USD/JPY climbing 0.42% to hit a daily high of 91.62, before consolidating at 91.42. The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.27%. Also Monday, the U.S. and EU central bank chiefs spoke of the importance of emerging economies in securing the global economic recovery.

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