As US Federal Reserve policy makers began their two-day meeting a report showed a surprise contraction in the country's business activity in April, further weakening the greenback amid expectations for ongoing monetary stimulus.
The MNI Chicago Report's business barometer fell to 49, dropping below 50 for the first time since September 2009, from 52.4 in March.
Offsetting that disappointing data was the latest report on US home prices. Single-family home prices jumped 9.3 per cent in February from a year earlier, according to the S&P/Case Shiller index of 20 metropolitan areas.
The US dollar weakened 0.4 per cent against the euro, bringing its drop for the month of April to 2.5 per cent.
The central bank will probably continue its "aggressive" easing program this year, former Fed governor Kevin Warsh told Bloomberg in an interview on Monday at the Milken Institute Global Conference in Los Angeles.