LONDON (Reuters) – The euro fell on Monday as traders that have pushed the single currency to multi-year highs took a breather and prepared for the European Central Bank meeting on Thursday to see if policymakers will introduce yet more stimulus.
FILE PHOTO: Rolled Euro banknotes are placed on U.S. Dollar banknotes in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration
The dollar has tumbled to more than two-year lows against the euro in recent weeks as investors bet U.S. interest rates would stay low for longer just as European policymakers agreed a significant recovery fund to boost the economy in Europe.
But the greenback has steadied in recent sessions, especially after the euro’s brief flirtation with the $1.20 level was followed by selling of the single currency.
In thin trading with U.S. financial markets closed for a public holiday, the euro dropped 0.1% to $1.1822 EUR=EBS while the dollar