NEW YORK: The euro recovered to trade higher against the dollar on Monday as investors bet that the move lower in New York morning trade was too far, too fast.

Earlier the euro slipped after the European Central Bank brushed aside a report in Germany’s Der Spiegel magazine that it was considering setting yield thresholds for any moves to buy the bonds of struggling euro sovereign debtors.

The euro was last at $1.2343, up 0.1 per cent, and closer to the session peak of $1.2368 than the session low of $1.2293.