Asian session: The dollar fell against most major peers amid speculation Federal Reserve Chairman

EUR / USD: during the Asian session the pair rose to $ 1.2300.

GBP / USD: during the Asian session the pair grew up, updating the weekly maximum.

USD / JPY: during the Asian session the pair rose to Y 79.00.

ECB Governing Council member Erkki Liikanen is due to meet European Commissioner for Internal Markets Michel Barnier today, although scheduled European events start at 0600GMT with ACEA new car

registrations data, shortly followed at 0610GMT by the GFK measure of German consumer confidence. At 0730GMT, the Riksbank delivers the minutes from it's July 3rd Monetary Policy Meeting. The main European

data release for Tuesday is German ZEW data, due at 0900GMT Expectations are mixed, but median forecasts look for the expectations index to slip to a reading of -20.0, while the median forecast for the

current situation index looks for a slip to 31.2. Also at 0900GMT, ECB Governing Council member Luis Linde is due to present the Bank of Spain's Annual Report to the Committee on Economy and Competitiveness,

in Madrid.

UK data at 0830GMT sees inflation data for June. These data are set to show inflation running comfortably below the Bank of England Monetary Policy Committee's forecast for Q2.Staying in the UK, at 0900GMT, the Bank of England's King, Tucker, Kohn,and Turner give evidence to a Treasury Select Committee on the Financial Stability Report.

US data starts at 1145GMT with the weekly ICSC-Goldman Store Sales data, while at 1230GMT, US consumer prices are forecast to hold steady in June, as energy prices remained soft. This followed a 0.3%

decline for overall CPI in May. The weekly Redbook Average follows at 1255GMT, followed at 1300GMT by

Treasury International Capital System (TICS) data. The Bank of Canada gives it's monetary policy announcement at 1300GMT and is expected to leave rates unchanged, although markets will also be eyeing any statement for a potential softening of the recent tightening bias.At 1315GMT, industrial production is expected to rise 0.3% in June after falling slightly in May. Capacity utilization is forecast to rise to 79.1% in June. At 1400GMT, Federal Reserve Chairman Ben Bernanke delivers his semi-annual monetary policy report to the Senate Banking Committee. US data also rounds off at 1400GMT with the July Housing Market Index from the NAHB.