The common currency of the European Union fell in value against most of its major rivals as the trade week began after President Mario Draghi with the European Central Bank suggested the bank is set to intervene, according to Bloomberg.
After performing strongly last week against the world's reserve currency, the euro dipped on Monday after Draghi said the monetary unit is under scrutiny of the body he leads. His remarks came over the weekend in Washington, where the International Monetary Fund and the World Bank conducted Spring meetings.
"It's a very short-term play to be shorting euro at this stage, considering what's happening with the strengthening in the conditions in the periphery, and the modest recovery which is occurring," head of Asia Pacific markets strategy Greg Gibbs with Royal Bank of Scotland Group Plc in Singapore told Bloomberg on Monday. "But that said, you've also got the Ukraine situation, which continues to deteriorate."
The euro fell roughly 0.2 percent against the greenback after having achieved increases of 1.3 percent last week.
Increased capital is finding its way into healthier economies such as Germany and the Netherlands, according to Reuters.
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