The Dollar tumbled to a 1-year low vs. the EUR in Monday's trading. However, the USD did make some gains against other currencies, despite the USD falling in early trading, as Monday was a very volatile trading day. The main factor that pushed the U.S. lower against the EUR yesterday was that U.S. stocks made significant gains, led by industrial and financial shares that helped the market prevail over an earlier slump. This led investors to drop the USD in some cases for higher yielding currencies and equities.

The EUR/USD pair closed higher by 70 pips at the 1.4614 level, which was slightly lower than the high reached yesterday of 1.4652. Obama's speech about the U.S. financial rules overhaul on Monday helped the USD strengthen against several major currencies. The USD/JPY cross finished trading at 91.10, the first daily rise in a week-and-half. This all shows that the USD was unable to gain considerable strength yesterday, as no economic data was released from the U.S., which put the greenback on the backburner.

Looking ahead to today, there is expected to be much economic data released from the U.S. economy. Core Retail Sales, PPI and Retail Sales figures will be released simultaneously at 12:30 GMT. If the figures are better than expected, then this may lend a lot of support to the greenback. However, worse figures could send the USD lower again the EUR for a second day in a row. Later on, Treasury Secretary Timothy Geithner is expected to speak about the U.S. economy at 14:00 GMT. Any clues about future U.S. Interest Rates are likely to create to great volatility in the U.S. Dollar going into mid-week trading.