The 17-nation euro is giving up more of last week's gains as traders seek the traditional safe haven of the U.S. dollar amid continuing unrest in Egypt.
The euro bought $1.3608 in morning European trading Monday, down from $1.3615 late Friday in New York, and hit as low as $1.3571 before bouncing back. The British pound is up slightly to $1.5880 from $1.5869 on Friday, while the dollar is down to 82.04 Japanese yen from 82.17 in New York.
CMC Markets economist Michael Hewson says economic data on tap and central bank meetings "could well play second fiddle this week if tensions continue to escalate throughout North Africa, with gold, the U.S. dollar and Swiss frank the most likely beneficiaries of a capital flight away from riskier assets."
