LONDON, June 23: The euro fell to its lowest reading against the dollar in more than a month Monday, suffering from profit-taking two days ahead of a meeting of Federal Reserve policymakers in Washington.

The single currency in late-day deals was trading at $1.1547 after $1.1600 on Friday night in New York.

The dollar fell to 117.61 yen from 118.35 on Friday.

“The euro appears to be under pressure,” said ABN Amro analyst Aziz MacMahon.

“There is some evidence of a dollar revamp but it’s as much a euro setback as a dollar recovery.”

He said many dealers were “clearing positions” ahead of a decision Wednesday on US interest rates by the Federal Reserve.

But a half-point cut “will be more than the market expected and that will have some impact. A 50 basis point (half a percentage point) move will be negative for the dollar.”

The euro was changing hands at 1.1547 dollars from $1.1600 late on Friday in New York, 135.78 yen (137.25), 0.6921 pounds (0.6975) and 1.5316 Swiss francs (1.5401).

The dollar was being quoted at 117.61 yen (118.35) and 1.3265 Swiss francs (1.3277).

The pound was at 1.6681 dollars (1.6627), 196.16 yen (196.78) and 2.2125 Swiss francs (2.2076).—AFP