The dollar fell against the euro and yen, as worries about the state of the US financial market due to earning reports from banks being published this week.

The dollar could also face a more worrying period as a glut of US economic news comes out this week. Traders are anxious to hear speeches from the Philadelphia Fed today and New York Fed and the SEC chairman on Thursday in front of a House Financial Committee.

Key US data out this week includes June’s existing home sales on Thursday and new home sales data on Friday.

The dollar fell largely on Friday as stuttering stock markets and a record high oil prices weighed on the U.S. currency, while weakening risk demand improved the low-yielding yen.

The euro added to gains made in the previous session after the European Central Bank said that inflation remained their top concern, signalling that the bank has no intentions of cutting interest rates soon. The euro recovered after falling to a two-month low against the Dollar.

Copper has now risen above the 8,000 USD a tonne price, stocks are falling and some supply problems in the American region has caused speculative buying. This has occurred with the weak dollar price.

The dollar has fallen to a new low against the Euro, following pressure from the 50 percent cut in rates by the US Federal Reserve who are trying to make the US economy more stable.

The weaker the dollar the cheaper the prices of metal such as copper, which is priced in dollars.