Forex Pros – The U.S. dollar was mixed against other major currencies on Monday, as the president of the European Central Bank, Jean-Claude Trichet, testified before the European Parliament in Brussels. The greenback was up against the euro, with EUR/USD shedding 0.06% to hit 1.238 during the ECB chief's testimony before the European Parliament's economic and monetary affairs committee. "Incoming data have confirmed a continuing recovery in the euro area in the first half of 2010," Reuters quoted Trichet as telling the panel. "Looking ahead, our earlier expectations that the euro area economy would expand at a moderate rate this and next year have been confirmed." Meanwhile, the dollar rose versus sterling and the Swiss franc, with GBP/USD sliding 0.05% to hit 1.4818 and USD/CHF gaining 0.02% to hit 1.109. The greenback was also up against the yen, with USD/JPY rising 0.5% to reach 91.14. But greenback was also down against its Australian, Canadian and New Zealand counterparts: AUD/USD surged 1.03% to hit 0.8809, USD/CAD shed 0.36% to hit 1.0182 and NZD/USD jumped 0.76% to reach 0.712. The Aussie's gains came after Australia and China signed new deals worth more than AUD 10 billion, deepening their energy and resources trade ties. The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.22%. Earlier in the day, the Chinese central bank let the yuan climb the most against the dollar since its revaluation in 2005. Analysts believe that while the Chinese currency will strengthen further in the coming days, it will do so at a modest pace.

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