At 4.00 am ET Monday, Germany's ifo business confidence survey results are due. The business confidence index is expected to rise to 78.3 in May from 74.3 in April.

The euro dropped against its major rivals before the data.

The euro was worth 1.0880 against the greenback, 117.20 against the yen, 0.8940 against the pound and 1.0585 against the franc at 3:55 am ET.

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