The EUR/USD pair rose to its highest level since the beginning of the year, reaching around 1.1040 during the early European trading session on Monday.
The Federal Reserve's comments, which lean towards easing, and the increasing bets on a rate cut by the Fed in September, are putting pressure on the US dollar and pushing the EUR/USD pair higher.
The euro is also strengthening as markets anticipate the European Central Bank (ECB) will gradually cut interest rates
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