Euro slides, consolidating below last week's high

London

THE euro drifted lower on Monday, consolidating below a one-week high tested in the previous session as investors moved to the sidelines before a central bank conference on Tuesday where central bankers may share their thoughts on the global economy. European Central Bank (ECB) chief Mario Draghi, US Federal Reserve chair Janet Yellen, Bank of Japan governor Haruhiko Kuroda and Bank of England head Mark Carney will form an all-star panel on Tuesday at an ECB-hosted conference in Frankfurt.

"Tomorrow's summit assumes as much importance as the Sintra summit as there are many policymakers in one forum, and they may strike a cautious stance on the underlying complacency evident in markets," said Christin Tuxen, an FX strategist at Danske Bank.