There was little movement against the euro and sterling, as traders looked ahead to Friday's highly anticipated Federal Reserve retreat at Jackson Hole. An absence of first-tier data from the U.S. kept traders focused on Europe this morning.
There are no signs of a recession in Germany, the country's Finance Minister Wolfgang Schaeuble said on Monday in an interview with Deutschlandfunk radio. He said the German economy, the largest in Eurozone, is strong and is set to grow 3 percent this year.
It was revealed last week that the German economy slowed to anemic growth in the second quarter.
German Chancellor Merkel said Sunday that the creation of euro zone bonds would be "exactly the wrong answer" to the debt crisis facing Europe.
The dollar was stuck near $1.4425 versus the euro, and was holding at $1.65 versus the sterling.
Meanwhile, the dollar briefly fought back above Y77 versus the yen as Japanese authorities signaled they will further intervene if the yen stays at historic highs.Last week, the dollar dropped to a record low of Y75.93.
The buck was also steady against the Swiss franc, hovering above CHF 0.75. The dollar hit a record low near CHF 0.7050 earlier this month. Global stock markets and commodity prices were higher this morning , giving the petro-linked Canadian loonie a bit of a boost. The dollar slipped to C$0.9830 from near parity.
Looking ahead on the U.S. economic calendar, the Commerce Department's new home sales and durable goods orders reports and the weekly jobless claims report are due out later this week.
The Federal House Finance Agency's house price index for June, the preliminary second quarter GDP report, the Reuters/University of Michigan's revised consumer sentiment report for August and Treasury auctions of 2-year, 5-year and 7-year notes round up the other economic data of the week.
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