The euro trimmed its early losses against most major currencies in pre-European trading on Monday.

The euro was trading at 0.7011 against the pound, 1.0624 against the greenback and 130.92 against the yen, reversing from an early low of 0.6992, 7-month lows of 1.0601 and 130.57, respectively.

If the euro rises further, it is likely to find resistance around 0.705 against the pound, 1.07 against the greenback and 132.00 against the yen.

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