NEW YORK Jan 7 The euro recovered and rose to a
session high against the dollar on Monday with investors
adjusting positions ahead of a European Central Bank policy
meeting later in the week.
Some analysts said the euro was more likely to remain under
pressure as markets refocus on the euro zone's debt crisis, with
any indication of monetary stimulus or comments on economic
weakness seen pushing the euro zone common currency lower.
But some investors speculated there was too much bearishness
and that if the ECB was not too negative, the euro could rally.
Currency speculators became net buyers of the euro for the
first time since August 2011 in the week to Dec. 31, according
to data from the Commodity Futures Trading Commission released
The euro was last up 0.2 percent at $1.3088, just off
the session peak of $1.3090.