Sterling bulls were hit hard on the session as a weaker than expected reading on both manufacturing and industrial production in the United Kingdom sparked the day's decline.
Dollar weakness turned into euro strength as several factors reinforced greenback selling seen in the overnight. Speculation over interest rates and central bank diversification led the handful of reasons with Middle Eastern buyers emerging late in the session forcing the EUR/USD currency pair higher.
Loonie weakness was seen as momentum from Friday's sell off continued on the first trading day of the new quarter. Expecting higher growth rates in the world's ninth largest economy, traders were disappointed to see that overall growth was restrained in the month.
Posting the largest percentage gainer on the day, the AUD/CAD currency cross rose convincingly past the 0.8300 and 0.8350 figures as bidders returned on less than expected gross domestic product figures from Canada.
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