While the euro plunges after weak data, the dollar rose to its highest level in 20 years on Monday. Investors are preparing for a week full of central bank meetings.

The European currency came under pressure after a survey showed that eurozone manufacturing output growth stagnated last month. However, the euro is struggling around the $1.05 mark. The Dollar Index gained 5% in April, its best monthly performance since January 2015. It stood at 103.36, up 0.1% on the day. The euro lost 0.2% to $1.0525.

Where, the dollar gained half a percent over the Chinese yuan in offshore markets, reaching 6.6895, just below its strongest since late 2020. Sterling slipped 0.1% to $1.2570, while the Japanese yen was down against the dollar at 129.91, but far from its recent lows. The Australian and New Zealand dollars first fell sharply in Asian hours.

The Aussie rebounded from its three-month low in European hours and was last at $0.7074, unchanged on the day. The Kiwi dollar hit its lowest since mid-2020 at $0.6422, after losing 6.9% in April, before rising to $0.6448.