The euro was slightly higher against the U.S. dollar Monday, the Associated Press reported. The 15-nation euro bought US$1.5860 in morning European trading, up slightly from the US$1.5843 it bought in New York late Friday. The British pound fell to US$1.9916 from US$1.9980 while the dollar bought 106.67 yen, down from 106.89 yen Friday. ECB President Jean-Claude Trichet expects the euro zone's economy to return to moderate growth late this year, after a midyear low, and sees inflation dropping back to around 2 percent in about 18 months.
