On Monday, euro hit a one-month high and is heading towards $1.50, ahead of a European Central Bank policy meeting later this week. On Friday, the euro was steady at $1.4633 after earlier hitting a one-month high above $1.4650 in line with the May U. S. payrolls data.

Barclays Capital strategists said that European Central Bank policy will help the euro in rising constantly.

The euro has gained 4% in the past three weeks, and these gains are propelled by hopes that Greece is close to securing billions of Euros through financial rescue.

In May, the US jobs growth had fallen to an eight months low along with the dollar. The decline in the US market has further pushed down Japanese stocks to a two-month low.

Experts believe that the advancement of euro was fuelled by the falling dollar and euro zone's debt crisis. The decline of US dollar has resulted in falling commodity prices and rise in US jobless rate.

Meanwhile, this week the Bank of England, the Reserve Bank of Australia and the Bank of Korea will be focal points for investors.