TOKYO/LONDON—The euro jumped to a more than three-week peak versus the dollar on Monday, as European Central Bank officials argued for further aggressive monetary tightening and the greenback softened against most majors except the under-fire Japanese yen.
The European common currency rose around 1.5 percent to $1.0198, its highest since Aug. 17, and well up from a 20-year trough of $0.9862 hit last week. It was last up 0.88 percent at $1.01345.
“Positions are pretty stretched, everyone and his dog has been long dollar, and we had (ECB) comments over the weekend, which are very hawkish and that fed this perception that maybe the market is overdone,” said Jane Foley, head of FX strategy at Rabobank….