Investing.com - The euro moved lower against the U.S. dollar on Monday, after the release of somewhat disappointing German data and as investors were still digesting the weekend's elections in Germany.
EUR/USD was down 0.45% to 1.1903 by 04:15 a.m. ET (08:15 GMT).
Data on Monday showed that German business confidence edged lower in September. However, the reading remained close to the highest level on record, suggesting momentum in the euro zone's biggest economy remains strong.
The euro had weakened after Germany's federal election on Sunday showed growing support for a far-right party.
Chancellor Angela Merkel won a fourth term in office on Sunday but will have to build a coalition to form a government as Conservatives lost support in the face of a surge by the anti-immigration Alternative for Germany (AfD).
The euro was also lower against the pound, with EUR/GBP down 0.52% at 0.8802.
The pound recovered from losses posted on Friday after UK Prime Minister Theresa May gave few new indications on how Brexit will proceed.
May proposed a transition period of around two years after the UK leaves the European Union, during which time access to the single market will continue on current terms.
Shortly after May's speech, ratings agency Moody's downgraded Britain's credit rating to Aa2, saying government plans to reduce debt had been knocked off course and that Brexit would weigh on the economy.