Euro glides off four-week high

Euro fell on Monday away from a four-week high hit earlier in the session, as markets await the Federal Reserve's policy decisions, forcing currencies to readjust their positions.
 
EUR/USD last traded at 1.0671, down from the opening of 1.0686, with a session-high at 1.0712, and a low at 1.0658.
 
Euro's earlier rally today to a four-week high came on the back of dollar's weakness against a basket of currencies, underpinning the common currency since the end of last week.
 
The euro however resumed its decline after Italy's industrial production fell 2.3% in January, the largest fall in four years, after rising 1.4% in December.
 
On the other hand, European Central Bank President said today that a French exit from the euro zone would have severe consequences on growth and inflation, stoking concerns in the markets in case the Far Right Candidate Marie Le Pen wins the presidential race next month.