The common currency of the European Union kicked off the trade week with gains against the world's reserve currency, continuing gains during the past few weeks, Bloomberg reports.
Also benefiting the euro on Monday was an Italian bond sale that saw the nation reach its goal. Under sharp focus due to the voracious appetite of the sovereign debt crisis, Italy sold 8 million-euros-worth of debt of one-year bills. But conjecture continued mounting about what action the European Central Bank will pursue to boost the regional economy.
"Still, speculation that the ECB might take some concrete measures is making it a little hard for the market to sell (the euro) too aggressively," one trader told Reuters.
The euro notched its highest value in about four weeks early last week as Spain, also under the duress of the euro debt crisis, continued working to stave off threats to its banks, markets and public finance systems presented by the nearly three-year-old crisis.
The past few weeks have seen the euro enjoy mild gains, which traders, investors and analysts link to growing optimism for officials' capacities to handle the debt crisis.
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