Foreign exchange market. American session: the U.S. dollar traded lower against the most major currencies ahead the U.S. existing home sales data

The U.S. dollar traded lower against the most major currencies ahead the U.S. existing home sales data. Sales of existing homes fell 4.9% to a seasonally adjusted annual rate of 4.82 million in January from 5.07 million in December. That was the lowest level since April 2014.

December's figure was revised up from 5.04 million units.

Analysts had expected a decline to 5.03 million units.

The euro traded higher against the U.S. dollar. Concerns over Greek bailout programme weighed on the euro despite Friday's new debt deal between Greece and the European Union. Greece and the European Union agreed on Friday to extend Greek bailout programme by four months.

German Ifo business climate index rose to 106.8 in February from 106.7 in January, missing expectations for a rise to 107.4.

The British pound traded higher against the U.S. dollar. The Confederation of British Industry released its monthly Distributive Trades survey on Monday. The CBI retail sales balance dropped to 1% in February from 39% in January, missing expectations for an increase to 42%. That was the lowest level since November 2013.

The drop was largely driven by lower supermarkets and department stores sales.

Sales expectations for March declined to 27% from 42% in February.

The New Zealand dollar traded lower against the U.S. dollar. In the overnight trading session, the kiwi traded lower against the greenback. Credit card spending in New Zealand rose 6.2% in January, after a 4.5% gain in December.

The Australian dollar traded higher against the U.S. dollar. In the overnight trading session, the Aussie traded lower against the greenback in the absence of any major economic reports from Australia.

The Japanese yen traded higher against the U.S. dollar. In the overnight trading session, the yen traded higher against the greenback after the Bank of Japan (BoJ) meeting minutes. The BoJ released its January meeting minutes. Three members of the BoJ's policy board expressed doubts the central bank will achieve its inflation target.