The U.S. dollar slipped on Monday trading against majors after the Fed Chairman, Ben Bernanke, announced on Friday in his speech that the Fed still has many tools to use to boost the sluggish growth pace, 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 meeting and jobs report this week where later in the day U.S. consumer spending data will be available. Personal spending will probably show 0.5% advance last month from 0.2% drop in June.

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

On the other hand, the yen showed slight decline against high-yielding currencies on expected intervention from the BoJ to halt the yen's appreciation which is threatening recovery path in Japan, especially after the Japanese Prime Finance Minister Yoshihiko Noda, who witnessed three interventions last year, was assigned as Prime Minister succeeding Naoto Kan mentioned he is quitting 14 months into the job.

Concerning the USD/JPY pair, it fell on the 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 showed slight advance against low-yielding currencies, while the Swiss franc slipped against all majors on rising expectations the SNB would continued monetary interventions to curb the franc's runaway.

Concerning the EUR/CHF pair, it rose slightly on the daily basis to trade around 1.1820, where it recorded a high of 1.1863 a low of 1.1688.

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

Meanwhile, the sterling is trading around 1.6390, where the day's high was recorded at 1.6407 while the low was seen at 1.6321.

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