Investing.com - The dollar continued to fall against other major currencies on Monday as holiday season kicks in.
Trading volumes were expected to become more and more thin throughout the week, ahead of the Christmas holiday.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.40% at 93.09 by 11:58 AM ET (16:58 GMT), the lowest since November 27.
The dollar was also down against the Japanese zen, with USD/JPY falling 0.17% to 112.41.
The euro was supported by data that showed euro zone inflation rose in November but still came in below the European Central Bank’s target rate. Meanwhile Germany's Social Democrats agreed on Friday to open coalition talks with Chancellor Angela Merkel, providing a chance to end the country's political deadlock. The news bolstered the euro, with EUR/USD up 0.47% at 1.1804
Sterling gained ground meanwhile, with GBP/USD rising 0.54% to 1.3394.
Elsewhere, the Australian and New Zealand dollars were stronger, with AUD/USD up 0.35% at 0.7674 and with NZD/USD gaining 0.23% to trade at 0.7010.