Euro climbs off four-week low against dollar

Euro rose against the dollar in American trade away from January 18 lows for the second session amid a lack of data from the euro zone and the US, the world's largest economy. 

As of 04:39 GMT, EUR/USD rose 0.16% to 1.2271 from the opening of 1.2254, with an intraday high at 1.2297, and a low at 1.2235. 

Earlier today, European Central Bank member Ewald Novotny expressed his concerns about US political developments regarding the exchange rate, with the ECB concerned about any potential attempts to manipulate the dollar-euro rate, mentioning that it was one of the most important issues discussed in Davos.

Markets await US inflation data later this week, specifically consumer and producer prices in addition to retail sales, industrial, housing, and consumer confidence data.