A slow news day as well as general improved investors' sentiment helped push riskier currencies higher versus the safe heaven USD and JPY. The EUR's rallied against the USD was helped by an unsexed jump in Euro-Zone industrial output which signaled the industrial sector has so far not been greatly affected by the Euro-Zone debt crisis.
The EUR is trading at $1.2240, up from $1.2077 late in New York Friday. The USD is at Y91.91 against the Yen, from Y91.62. The EUR is up at Y112.45 from Y110.65. The U.K. Pound was higher at $1.4731 from $1.4516.
Sterling moved higher as the country's borrowing forecasts were cut to GBP106 billion in 2012 to 2013, from GBP110 billion seen earlier. Furthermore, over the weekend, Bank of England monetary policy committee member, Andrew Sentance, hinted at a possibility of imminent interest rate hikes to battle growing inflation which help support the Pound versus the USD as well as EUR.