The dollar fell on Monday against the euro and the pound sterling, pressured by risk appetite and a rally in the European stock market amid hopes that China will ease restrictions related to COVID-19.
A survey on Monday showed investor confidence in the euro zone improved in November, its first rise in three months, reflecting hope that recent warmer temperatures and falling energy prices will prevent gasoline rationing. on the continent this winter.
Investors were also buoyed by a reading that showed German industrial production grew 0.6% in September from the previous month.
The pound reversed its early losses and improved 1.4% to $1.1534, while the euro hit its highest since October 27, advancing 0.69% to 1.0029.
The dollar index, which compares a safe haven asset like the greenback to a basket of six major currencies, was down 0.59% at 110.070, after falling almost 2% at the end of last week.
Investors now eagerly await a reading of the US consumer price index data on Thursday. Analysts polled by Reuters expect headline CPI to hit 8% year over year in October, down slightly from 8.2% in September.
Among cryptocurrencies, Bitcoin was down 1.41% at $20,837 and Ethereum was down 2.76% at $1,600.30.
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