USD gains 0.6 percent versus euro

The US dollar gained ground on Monday after comments from Rodrigo Rato, the head of the International Monetary Fund said that the dollar is undervalued.

Many analysts, however, are doubtful that the dollar will continue to advance.

The greenback added 0.3 percent to ¥117.36 in relation to the yen, while it gained 0.4 percent to $2.0351 against sterling and jumped 0.6 percent to $1.4050 versus the euro.

The Canadian dollar dropped 0.6 percent to C$0.9860 to the dollar.

The Australian dollar dropped 0.4 percent to $0.8941 versus the greenback , but added 0.2 percent to ¥105.18 in relation to the yen.

Sterling was stronger on higher than expected manufacturing ouput and input producer prices, gaining slightly versus the euro to £0.69.

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