U.S. dollar dips as euro climbs

The U.S. dollar fell noticeably in late trading on Monday amid a momentum in the euro, reported Xinhua.

The dollar index, which measures the greenback against six major peers, decreased 1.04 percent to 102.0760.

The euro rallied after Christine Lagarde, president of the European Central Bank (ECB), said in a blog post Monday that the bank could increase rates in July and "be in a position to exit negative interest rates by the end of the third quarter."

The U.S. dollar was also pressured as risk-sensitive currencies such as the Australian dollar and sterling advanced.

In late New York trading, the euro increased to 1.0562 U.S. dollars from 1.0550 dollars in the previous session, and the British pound rose to 1.2495 dollars from 1.2471 U.S. dollars in the previous session. The Australian dollar increased to 0.7108 U.S. dollar from 0.7020 dollar.

The U.S. dollar bought 127.85 Japanese yen, higher than 127.80 Japanese yen of the previous session. The U.S. dollar decreased to 0.9737 Swiss franc from 0.9758 Swiss franc, and it fell to 1.2837 Canadian dollars from 1.2847 Canadian dollars.