The U.S. currency has started this week with an incline against its European counterpart, after the U.S. government announced today that the economy agreed to cut about 38 billion dollars from federal spending this year.

The greenback advanced versus 13 of its 16 major counterparts before a U.S. report to show retail sales jumped in March, while he Japanese yen erased earlier declines against the euro as Asian stocks pared advances, damping demand for higher-yielding assets.

The EUR/USD pair has recorded a new high at 1.4483 during the Asian trading session, after recording a low of 1.4440.