Euro hits two-week high versus weak US dollar

London

THE euro hit a two-week high against a subdued US dollar on Monday, after Germany's Ifo survey for July beat forecasts and painted an upbeat picture of Europe's largest economy.

The US dollar fell broadly, after a drop in US shares and bond yields dimmed its allure, with markets focused on this week's Federal Reserve policy meeting. It fell 0.3 per cent against the safe-haven yen with an 8-per cent drop in Chinese stocks affecting global risk sentiment, traders said.