Investing.com - The euro hit fresh 11-month lows against the U.S. dollar on Monday, as comments by Federal Reserve Chair Janet Yellen boosted the greenback, while European Central Bank President Mario Draghi's remarks dampened demand for the single currency.
EUR/USD hit 1.3186 during late Asian trade, the session low; the pair subsequently consolidated at 1.3195, shedding 0.34%.
The pair was likely to find support at 1.3105 and resistance at 1.3297, the high of August 22.
The dollar strengthened broadly after Fed Chair Janet Yellen said on Friday that the U.S. economy is recovering and added the labor market is improving as well.
Ms. Yellen was speaking at the Fed's annual meeting of top central bankers and economists in Jackson Hole, Wyoming.
At the same time, ECB President Mario Draghi told the Jackson Hole gathering that the central bank is ready to take more unconventional action if needed to stimulate a sluggish euro zone economy.
The comments highlighted the view that the paths of euro zone and U.S. monetary policies are diverging.
Meanwhile, concerns over the crisis in Ukraine persisted after NATO said over the weekend that it was observing an alarming increase in Russian forces near the border with Ukraine.
Ukraine declared on Friday that Russia had launched a "direct invasion" of its territory after Moscow sent a convoy of aid trucks across the border into eastern Ukraine where pro-Russian rebels are fighting government forces.
The euro was lower against the pound, with EUR/GBP declining 0.34% to 0.7964.
Later in the day, Germany was to publish the Ifo report on business climate, while the U.S. was to release data on new home sales.