The Asian trading session wasn't very upbeat, where most of the major Asian currencies were trading with a downside bias.

The Chinese inflation eased to the slowest pace in at least 20 months in February, giving policy makers more room to stimulate the economy as investment and export growth weaken.

Stevens said that the Chinese growth will slowdown from 10% to 8%, and according to some economists it's a major crash, yet to reduce the inflation rate some slowing was necessary, to put growth on a more sustainable path.

Moving to Australia, where the RBA released the minutes for the meeting this month when the bank kept the benchmark interest rate unchanged as the nation's mining investment boom intensified and risks from Europe's debt crisis eased. Nevertheless, the board members noted that the inflation remained well contained, which will give the Reserve Bank of Australia the room to withhold the loose monetary policy.

The RBA said that it is appropriate to maintain interest rates at moderate levels, yet the door is opened for further cuts if needed and that inflation rates are within control.

The local currency rose during March to about the highest level in trade, as the so-called Aussie was at $1.0608, from $1.0600 before the minutes, also the Aussie reached $1.0637 yesterday,which is the strongest since March 9.

Moving to the Japanese currency, the USD/JPY is slightly declining, as it is currently trading around 83.41, yet it recorded its highest at 83.44 and lowest at 83.40.

Moving to the NZD/USD pair, it is trading bearishly for now, where the pair is currently trading around 0.8258 after it reached the highest at 0.8267 and lowest at 0.8246.