Forex Pros – The U.S. dollar was down against all of the other major currencies on Monday, after an agreement by G20 financial leaders on the need to avoid “competitive devaluation” of currencies sparked a wave of dollar selling. During European morning trade, the greenback was down against the euro, with EUR/USD rising 0.53% to hit 1.4029. Earlier in the day, official data showed that the euro zone’s industrial new orders rose more-than-expected in August. The greenback was also down against the pound and the Swiss franc, with GBP/USD gaining 0.33% to hit 1.5734 and USD/CHF tumbling 0.72% to hit 0.9704. Earlier Monday, industry data showed that mortgage approvals in the U.K. fell more-than-expected in September. In addition, the greenback was down against the yen with USD/JPY plunging 1.01% to hit 80.54. Earlier in the day, Japan’s Ministry of Finance said that the country’s trade surplus rose more-than-expected in September, the first year-on-year rise in two months. The greenback was also down against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.74% to hit 1.0188, AUD/USD soaring 1.25% to hit 0.9951 and NZD/USD surging 0.90% to hit 0.7534. Australian producer price inflation rose more-than-expected in the last quarter, official data showed on Monday. The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.68%.

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