The euro kicked off the week weaker as a rejuvenated greenback and persisting Greek debt woes kept the currency under pressure.
The U.S. dollar was given a boost by last week's stronger-than-expected inflation data, which bolstered the case for a rate hike this year. The hovered close to a one-month high of 96.311.
Meanwhile, comments over the weekend by Greece's interior minister, Nikos Voutsis, that the debt-stricken nation could due to the International Monetary Fund also weighed on the currency.
In Asian trade, the euro traded at $1.0992 Monday after touching a one-month low of $1.0964 earlier in the session.
Analysts say downside risks loom ahead for the currency.
"There is the potential for euro to go lower," Ray Attrill, co-head of FX strategy at National Australia Bank, told CNBC. "We are not expecting it to go below parity, but I think it can go down to the area of 1.02-1.03 against the U.S. dollar in the second half of the year."
In your opinion, what will be the biggest factor for euro moves this week?
