The Asian trading session was very cautious today, where most of the major Asian currencies were trading in a narrow positive range.

The Australian dollar was trading within a slight range with a slight upside bias as so-called Aussie attempts to recover after the huge drop that was recorded yesterday. The pair is currently trading around 1.0482, as it reached its highest level at 1.0487 and lowest at 1.0464.

Moving to the Japanese currency, the USD/JPY pair is slightly declining, as it is currently trading around 83.64, yet it recorded its highest at 83.73 and lowest at 83.63.

Moving to the NZD/USD pair, which is slightly advancing, where the pair is currently trading around 0.8176 after it reached the highest at 0.8178 and lowest at 0.8159.

Heading to Europe, important data will be released, where eyes on the UK's BoE rate decision vote and most importantly Osborne's 2012 budget.