LONDON—The dollar rose back towards a 20-year high on Monday as the euro struggled around the $1.05 mark, with investors preparing for a busy week of central bank meetings including a likely Federal Reserve interest rate hike.
The euro also came under pressure after a survey showed that eurozone manufacturing output growth stalled last month as factories struggled to source raw materials, while demand took a knock from steep price increases.
Markets in Asia and London were closed for public holidays, so trading was quiet.
Investors are expecting the Fed to hike rates by 50 basis points when it meets on Tuesday and Wednesday. The uncertainty is around how hawkish Fed Chair Jerome Powell will sound in comments following the decision.
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