The U.S. dollar slipped on trading against majors after the Fed's Chairman, Ben Bernanke, said on Friday that the Fed still has many tools to use in order to boost sluggish growth, raising hopes that further measures will be used next month.

Although the announcement was below market's hopes of seeing a third round of stimulus, yet it managed to give a lift to Asian and European shares as well as high-yielding currencies.

Any new measures, similar or close to quantitative easing, would put downside pressure on the dollar as it will flood financial markets.

Meanwhile, eyes are on the FOMC minutes and jobs report this week, where later today U.S. consumer spending data will be available. Personal spending probably advanced by 0.5% last month from 0.2% drop in June.

The dollar index, which tracks the dollar's movement versus a basket of major currencies, fell to a low of 73.52 compared with the day's opening level of 73.71.

On the other hand, the Japanese yen declined slightly against high-yielding currencies on expected intervention from the BoJ to halt the yen's appreciation, which threatens the pace of the recovery in Japan, especially after the Japanese Finance Minister, Yoshihiko Noda, was assigned as Prime Minister succeeding Naoto Kan, who stayed in office 14 months.

Concerning the USD/JPY, the pair fell on daily charts to trade around 76.61 after recording a high of 76.81 and a low of 76.55.

The trading range for today is among key support at 75.25 and key resistance now at 78.80.

Moreover, the euro advanced slightly against low-yielding currencies, while the Swiss franc slipped against all majors on rising expectations the SNB would continue monetary interventions to curb the franc's runaway.

Concerning the EUR/CHF, the pair rose a bit over daily basis to trade around 1.1820, after recording a high of 1.1863 and a low of 1.1688.

Moving to the British pound versus dollar, the pair rose to follow the general sentiment amid the absence of economic fundamentals from Europe.

Meanwhile, the sterling is trading around 1.6390, recording the intraday high at d 1.6407, while the low was recorded at 1.6321.

The trading range for today is among key support at 1.6190 and key resistance at 1.6550.