The Trump administration, already reeling from allegations of Russian meddling in the US presidential election, received a fresh blow on Friday after White House spokesman Sean Spicer resigned, perpetuating the notion of disarray. The prolonged weakness in the US dollar has seen the Euro climb as much as 0.20% higher to $1.1681 after rallying to a 23-month high of $1.1683 on Friday.
The single currency has been riding on a bullish wave following comments from ECB President Mario Draghi last week pertaining to asset purchases viewed as hawkish by investors. All eyes will now be focused on the US Federal Reserve as the Open Market Committee begins a two-day meeting on Tuesday. Analysts will be looking for clues as to whether the Central Bank plans to commence its balance sheet unwind.