The U.S. dollar traded higher against the most major currencies. The greenback remained supported by Friday's solid U.S. gross domestic product (GDP). The U.S. GDP rose at an annual rate of 4.6% in the second quarter, in line with expectations, after a 2.1% decline in the first quarter. A previous reading was a 4.2% gain.

Market participants speculate that the Fed will start to hike its interest rates sooner than expected.

The New Zealand dollar dropped to 14-month low against the U.S. dollar as the Reserve Bank of New Zealand disclosed that it sold the kiwi to lower an exchange rate. That was the biggest sell-off in seven years.

No major economic reports were released in New Zealand.

The Australian dollar fell against the U.S. dollar in the absence of any major economic reports from Australia.

The Japanese yen traded lower against the U.S. dollar in the absence of any major reports from Japan.

The most important news that are expected (GMT0):

08:30 United Kingdom Mortgage Approvals August 67 66

08:30 United Kingdom Net Lending to Individuals, bln August 3.4 3.1

12:00 Germany CPI, m/m (Preliminary) September 0.0% -0.1%

12:00 Germany CPI, y/y (Preliminary) August 0.8% 0.8%

12:30 U.S. Personal Income, m/m August +0.2% +0.3%

12:30 U.S. Personal spending August -0.1% +0.5%

12:30 U.S. PCE price index ex food, energy, m/m August +0.1% 0.0%

12:30 U.S. PCE price index ex food, energy, Y/Y August +1.5% +1.4%

14:00 U.S. Pending Home Sales (MoM) August +3.3% -0.4%

21:45 New Zealand Building Permits, m/m August +0.1%

23:05 United Kingdom Gfk Consumer Confidence September 1 0

23:30 Japan Household spending Y/Y August -5.9% -3.5%

23:30 Japan Unemployment Rate August 3.8% 3.8%

23:50 Japan Industrial Production (MoM) (Preliminary) August +0.4% +0.2%

23:50 Japan Industrial Production (YoY) (Preliminary) August -0.7%

23:50 Japan Retail sales, y/y August +0.6% Revised From +0.5% +0.4%