During early deals on Monday, the European currency climbed to a 4-day high against the US dollar and the Japanese yen. On the other hand, the euro edged down versus the British pound and the Swiss franc.

Against the US dollar, the European currency gained ground after hitting a low of 1.3128 during early Asian deals on Monday. At 12:20 am ET, the euro-dollar pair climbed to a 4-day high of 1.3128, compared to 1.3170 hit late New York Thursday. The next upside target level for the pair is seen around 1.373.

The European currency that closed Thursday's North American session at 0.8994 against the British pound hit a 4-day high of 0.9007 during Monday's early Asian trading. Thereafter, the euro-pound pair reversed its direction and is currently trading at 0.8979 with 0.872 seen as the next target level.

Against the Swiss franc, the single currency edged down during Monday's early deals. At 2:45 am ET, the euro-franc pair slipped to 1.5208, compared to Thursday's closing value of 1.5221. If the pair falls further, 1.499 is seen as the next target level.

The 16-nation currency that closed Thursday's New York deals at 132.26 against the Japanese yen rose to a 4-day high of 132.66 at 2:20 am ET Monday. On the upside, 134.5 is seen as the next target level.

A report released by the Bank of Japan showed that Japan's corporate goods prices index or the producer price index fell 0.2% month-over-month in March. However, the decline was not as worse as the 0.5% drop in the previous month, although it was in line with expectations. Producer prices have been seeing a declining trend since September 2008.

Annually, producer prices fell 2.2% following a revised 1.6% drop in February. The decline was bigger than the 1.8% drop expected by economists. Meanwhile exports and import prices were down 3.2% and 17.2%, respectively in March compared to the year-ago period.

There are no important economic reports scheduled to be released today from Europe and North America.

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