LONDON, Aug 4: The dollar wilted against the euro on Monday ahead of an expected Federal Reserve decision to leave US interest rates on hold and on news that US consumer spending cooled in June.

The single European currency in late European trade was at $1.5570 against $1.5555 late Friday in New York. The dollar rose against the yen, trading at 107.99 after 107.68 on Friday.

The Federal Reserve will issue its rate decision on Tuesday, followed by the European Central Bank and the Bank of England on Thursday.

All three are expected to leave rates on hold as they grapple with rising inflationary pressures at a time when economic growth is slowing.

“A shift in the current monetary stance is likely to be a story for 2009 rather than 2008,” said analyst Derek Halpenny of Bank of Tokyo-Mitsubishi Analysts at Barclays Capital said they were “in line with the consensus in expecting policy rates to be left on hold.”—AFP