The world's reserve currency climbed in value on Monday against the shared currency of the European Union as the second quarter's final month kicked off, according to Bloomberg.
The greenback climbed higher against the 18-nation monetary unit as economists anticipated data about manufacturing in the U.S. will show growth when released later during the Monday trade session. Policy makers with the central bank of Europe are preparing to meet late this week, and traders and analysts are watching for signs of economic stimulus that the body is likely to implement.
"It looks likely that euro will be pushed around by the European inflation data," senior analyst Toshiya Yamauchi with at Ueda Harlow Ltd. in Tokyo told the news outlet on Monday. "The bias in euro is down ahead of this week's ECB meeting, and that should help support the dollar."
The greenback rose about 0.2 percent against the euro on Monday, the first trading session of June.
Policy makers with the European Central Bank are set to meet on Thursday in Germany, according to Reuters, which noted last month that one option the body is considering is slashes to borrowing costs.
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