The dollar rose against the euro on Monday, as the prospect of intervention from the European Central Bank loomed and the prospect of intervention from the Fed receded.
"The greenback is modestly firmer at the close of North American trade," said Michael Boutros of DailyFX.
"Market participants have remained optimistic that European officials will announce new aggressive measures to address the deepening crisis."
The European single currency eased to $1.2260 from $1.2315 in New York late Friday.
The dollar was flat at 78.19 Japanese yen.
The euro fell 0.9 percent against the yen to 95.86.
The dollar was up 0.5 percent to 0.9797 Swiss francs, while the pound fell 0.2 percent to $1.5710.