Forex: Monday's review

The yen fell against all its major counterparts as radiation levels that can prove fatal were detected at a damaged nuclear power plant in Japan amid signs the global economic recovery is gaining momentum elsewhere.
The euro erased losses against the dollar after European Central Bank President Jean-Claude Trichet said inflation rates that stick above 2% would be a concern. 
Trichet, told the European Parliament March 21 he has “nothing to add” to his March 3 remarks when he said policy makers may raise the benchmark rate from a record low of 1 percent at their next meeting April 7.
Markets reacted to Trichet’s “hawkish” comments, said Andrew Busch, a global currency strategist at Bank of Montreal in Chicago. 
The dollar earlier advanced after Federal Reserve official James Bullard said the central bank may consider scaling back its monetary stimulus. 
Consumer spending in the U.S. rose more than forecast in February as incomes climbed, helping to bolster the expansion in the world’s largest economy. Purchases increased 0.7%, the most since October, after advancing 0.3% the prior month, Commerce Department figures showed today.
Canada’s currency was the best performer against the dollar as crude oil traded near a two-week high amid concern renewed violence in Libya may further disrupt supplies.
The franc has surged 8 percent in the past year.

EUR/USD: the pair become stronger in around $1,4085.