Euro nears recent three-year high on dollar weakness

London

THE euro rose a third of a per cent on Monday on expectations that the European Central Bank will maintain its current monetary policy at a meeting this week and not signal a dovish tilt.

Dollar weakness, exacerbated by a US government shutdown and strengthening economic growth in Europe, also encouraged large investors to boost their expectations on the euro with UBS Wealth Management upgrading its short-term forecast for the single currency.