The dollar made slight gains against the euro and yen on Monday after consumer price inflation in Europe hit a new high above estimates.

The dollar was up against the euro, trading at $1.5761 Monday evening in New York compared to $1.5796 late Friday. The dollar was up against the yen, trading at 99.82 yen compared to 99.69 yen. The euro was up against the yen to 157.36 yen compared to 156.77 yen.

The dollar rose against the euro after the European Union union's Eurostat Data statistics agency said annual consumer price inflation rose to 3.5 percent in March, a record high. Bloomberg news had predicted inflation would rise by 3.3 percent.

A separate U.S. report found better than expected business conditions as the National Association of Purchasing Management-Chicago's index was up to 48.2 in March compared to 44.5 in February. Readings below 50 indicate economic contraction. Economist had expected a reading of 46.3.

Looking ahead this week are a pair of closely watched reports from the Institute for Supply Management on manufacturing tomorrow and the Labor Department on payrolls on Friday.

Inflation