The euro struggled to gain after a three-month low against the dollar with US and Britain public holidays ensuring an anemic session overnight.
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Thanos Vamvakidis, head of European G10 FX strategy at Bank of America Merrill Lynch Global Research, says the euro will remain range bound until the next European Central Bank meeting.
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The euro has taken a beating from comments by the ECB that currency strength is a concern. It may may only stay down if action follows the tough talk.
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David Bloom, global head of foreign exchange strategy at HSBC, says when the European Central Bank begins quantitative easing, the euro will fall and this is the "only place" to make money in the currency market in 2014.
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