Derivatives markets forecast the first Fed cut in June and three to four 25 basis point cuts this year, close to the Fed's December projections. Super Tuesday, the biggest presidential primary day, is this week.
Sterling rose 0.23% to $1.2682 as traders awaited the British budget on Wednesday. Finance Minister Jeremy Hunt has tried to quell pre-election tax cut rumors.
Thursday sees the ECB meet. Most ECB policymakers have been hesitant about reducing rates soon.
Swiss February inflation was 1.2% more than predicted, but still lower than January's and well within the Swiss National Bank's 0-2% goal range, sending the Swiss franc up temporarily on Monday.
The dollar rose 0.23% to 0.885 francs before giving up those gains.
When markets were waiting for the local GDP numbers to be released on Wednesday, the Australian dollar dropped by 0.12%.
The annual parliament meeting of China, which will begin on Tuesday and will reveal the GDP objective.
Modest economic stimulus programs, will also have an effect on the currency due to the substantial economic links that Australia has with China.
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