The dollar fell against the euro on Monday after comments from two members of the European Central Bank's governing council lowered expectations for increasing its bond-purchase program next month.
Ewald Nowotny, president of the National Bank of Austria, said in newspaper interview published on Monday that while the ECB is right to consider adding to its bond buying to boost inflation it should think very carefully before doing so. Nowotny added that there had been "no decisions," only discussions on the matter and that he would "advise more towards caution and a steady-hand policy."
Those comments followed a weekend interview with ECB President Mario Draghi that were seen as less dovish than his Oct. 22 comments following the bank's meeting that month. In a morning note, Morgan Stanley analysts said it appeared Draghi had stiffened the bank's policy stance by saying that more stimulus in December was an open question.