Monday saw the common currency of the European Union slip against most of its top rival monetary units, resuming its downward trend on the first day of the second quarter of the year, according to Bloomberg.
The region is set to release economic data on Monday regarding employment numbers from last month. Policy makers with the central bank of Europe are slated to meet on Wednesday to debate interest rates.
"I don't think cuts in deposits would be applied to every other country in the euro zone," a trader at a European bank told Reuters on Monday. "Still, investors will see some risk and there are also some issues with Italy, so the euro is likely to head toward $1.25."
Tuesday also will see the release of regional manufacturing data, which is prone to slip for a 20th consecutive month.
Also tugging the 17-nation monetary unit down on Monday were preoccupations about how effective the bailout for Cyprus will be, according to Reuters. Additional pinching of the euro was applied by concerns about the state of the political situation in Italy, the region's third-biggest economy.
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