The euro was firm in early trading Monday on European markets, with exchanges quoting 1.2975 dollars or 77.04 euro-cents per dollar. The rate was up from the 1.2921 dollars European Central Bank reference pegging on Friday. Money traders said they expected the dollar to remain under pressure, despite the most recent U.S. Federal Reserve rate hike, due to worries over the massive U.S. budget and current accounts deficits.
