The common currency of the European Union hovered near its lowest value in about one month against the world's reserve currency on Monday as European Central Bank officials prepare for speaking engagements as the trade week begins, according to Bloomberg.
As the euro comes off its biggest weekly loss in roughly eight weeks, eyes are focusing on the speeches. President Mario Draghi said last week, after the May policy meeting closed, that the ECB is likely to ease policy next month.
"If last week's move was to fully discount a June easing of policy by the ECB, I think the risk is that the data and the comments from policymakers this week will be on the hawkish side," global head of FX strategy Adam Cole with RBC Capital Markets in London told Reuters on Monday.
The shared currency edged up about 0.1 percent against the U.S. dollar after dropping 0.8 percent last week against the greenback.
Austrian Central Bank Governor Ewald Nowotny and Vice President Vitor Constancio with the ECB are slated to speak on Monday, Reuters reports.
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