The dollar is approaching the highest level in a year

Against a basket of currencies, the dollar hovered near a one-year high of 106.63.

The British pound was last bought at $1.2636, remaining near a six-month low last week, while the euro rose 0.02% to $1.0544.

A number of European central bankers will also speak this week and may sound more pessimistic given recent weak economic data and the risk of Trump imposing tariffs on European trade.