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USD/CHF lost ground after four days of gains, trading around 0.7890 during the Asian hours on Monday. The US Dollar (USD) weakens against peers as risk aversion eases on reports that the United States (US) may announce a coalition to escort ships through the Strait of Hormuz.

USD/JPY edges lower after four days of losses, trading around 159.60 during the Asian hours on Monday. On the daily chart, technical analysis indicates a persistent bullish bias as the pair remains within the ascending channel pattern.

Gold price (XAU/USD) slumps to around $4,967.70 during the early Asian session on Monday. The precious metal faces selling pressure as uncertainty surrounding the monetary policy announcement by major central banks this week is dominating the intense geopolitical conflict in the Middle East.

A spokesperson from China’s National Bureau of Statistics (NBS) outlines various measures during the Asian trading session on Monday, which the government intends to adopt this year to support consumer demand and the economy.

The NZD/USD pair gains traction to near 0.5805 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) after the release of the Chinese February Retail Sales and Industrial Production reports.

AUD/USD edges higher after two days of losses, trading around 0.7010 during the Asian hours on Monday. The pair holds ground following the release of key economic data from China.

Japanese Prime Minister (PM) Sanae Takaichi said on Monday that “Japan has no plan currently to dispatch its navy to the Middle East to escort vessels.”

China’s Retail Sales rose 2.8% year-over-year (YoY) in January-February vs. 2.5% expected and 0.9% in December, the latest data released by the National Bureau of Statistics (NBS) showed Monday.

Japan’s Finance Minister Satsuki Katayama said on Monday that officials were prepared to take decisive steps on foreign exchange. Policymakers declined to comment on specific currency levels.

Gold price (XAU/USD) tumbles to around $4,980 during the early Asian session on Monday. The precious metal faces some selling pressure despite intense geopolitical conflict in the Middle East. Traders will closely monitor the developments surrounding the United States (US)-Israel war with Iran.