Euro weakens, Trump travel ban fears underpin yen

The euro fell to the day’s lows against the U.S. dollar on Monday after a senior European Central Bank official said it will probably review its policy stance in June, but stop short of any decision on winding down stimulus.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, climbed 0.39% to 100.95, boosted by the weaker euro, after falling to overnight lows of 100.14.
Gains in the dollar were held in check as controversial immigration restrictions put in place by President Donald Trump underlined concerns over the destabilizing impact of the new administration's protectionist policies.
The order has triggered legal challenges, international criticism, widespread protests and confusion over its implementation at airports.
The dollar also remained on the defensive after Friday’s weaker-than-expected figures on U.S. fourth quarter growth prompted speculation that the Federal Reserve will avoid hiking interest rates too quickly.
The Fed, which is to hold its next policy meeting on Wednesday, isn’t expected to raise interest rates, but investors are keen to hear how it views the economy and the future path of interest rates.

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