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Dollar Exhibit Mixed Trend Against Major Currencies

The U.S. dollar displayed weakness against some of its peers on Monday, although fairly encouraging retail sales data supported and limited its decline.

Euro gained on reports that the British Prime Minister was heading to the European Parliament in Strasboug, France for some last-minute talks with EU officials on Brexit deal.

British lawmakers are scheduled to vote on May's Brexit deal on Tuesday. The dollar was down by about 1% at 1.3145 a Sterling after having dropped to 1.3171 earlier.

Against the Euro, the dollar traded weak, with the former gaining in strength on reports that suggested Commerzbank and Deutsche Bank were in talks about a merger.

Euro was also supported by comments by European Central Bank board member Benoit Coeure that the central bank's fresh stimulus measures are an adjustment to a new economic reality rather than reversing the course.

The euro was quoting at $1.244, after swinging between $1.1223 and $1.1259.

Against the Yen, the dollar was up marginally at 111.22. The yen had earlier strengthened to 110.88.

The Aussie was gaining about 0.33% against the Dollar, with the AUD/USD pair trading at 0.7068.

Against Swiss Franc, the dollar was gaining about 0.3%, while against the Loonie it was down 0.1%.

On the economic front, data released by the Commerce Department showed an unexpected uptick in U.S. retail sales in January.

The Commerce Department said retail sales rose by 0.2% in January after tumbling by a revised 1.6% in December.

Economists had expected retail sales to come in unchanged compared to the 1.2% slump originally reported for the previous month.

Excluding a steep drop in auto sales, retail sales climbed by 0.9% in January after plummeting by a revised 2.1% in December.

Ex-auto sales had been expected to increase by 0.3% compared to the 1.8% plunge originally reported for the previous month.

According to another data from the Commerce Department, business inventories in the U.S. increased by 0.6% in the month of December, in line with expectations.

Wholesale and retail inventories jumped by 1.1% and 0.9%, respectively, while manufacturing inventories were unchanged.

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