Majors continued to incline against the weakening dollar during today's sessions. With the lack of fundamentals for the U.S. economy and the full house for the Euro Zone, investors await the ECB and the BoE rate decisions which will be held later this week. The 13-nation currency gained against dollar since the early morning to record a new all time high of 1.4530 but is now fluctuating within narrow ranges at 1.4520, the Royal currency slightly declined to the 2.0847 levels and the Yen remains quite stable and is being traded within narrow ranges at 114.70.

The Euro was able to record the all time high of 1.4530 after recording a low of 1.4468. Germany released its PMI services reading for the month of October coming in at 55.1, stronger then the predicted reading of 54.9 and September's reading of 53.1. The Factory Orders seasonally adjusted reading for the month of September showed a drop of 2.5% from the expected flat reading of 0.0% and August's reading of 1.2%. The Euro Zone released its PMI services flash reading for the month of October coming in at 55.8, opposing both the expected and previous readings of 55.6. The PPI reading for the month of September came inline with expectations at 0.4%, inclining from August's reading of 0.1%. The yearly reading showed a slight edge to 2.7% from the predicted reading of 2.6% and the previous revised reading to 1.8% from 1.7%. The retail sales reading for the month of September was released in the Euro Zone showing a rise of 0.3%, opposing the forecasted rise of 0.5% and August's revised reading to the downside of 0.0% from 0.1%. The yearly reading slightly slipped to 1.6% where expectations were for a rise of 2.2% and the previous reading was revised to 0.8% from 1.0%.

After recording a low of 2.0805, the Sterling inclined to record a high of 2.0883 but reversed to gradually depreciate. With no fundamentals in the calendar for the U.K. economy, movements will be based on technical indicators.

The Yen started the session declining against the dollar but has now regained enough strength to limit the USD/JPY pair's movements within tight levels. The USD/JPY pair recorded a high of 114.77 and a low of 114.28.

Having a free calendar for the U.S. economy, there is nothing to support the dollar against the majors during today's session as majors seize the opportunity to record new highs.