The 16-nation euro bought $1.4159 in European morning trade, up from $1.4028 late Friday in New York while, the pound reported a rise to $1.6129 from $1.6084. However, the dollar was slightly stronger against the Yen, climbing to 90.26 yen from 90.14 yen.

Markets is in a process of analyzing the Fed's rate verdict later in the week seeking a hint that the U. S. central bank may lift borrowing rates from near-zero levels.

The Federal Reserve committee that frames the nation's monetary policy will proceed with its first meeting of 2010 on Tuesday unveiling a critical question hanging in the air: how the Fed's chairman, Ben S. Bernanke, will emerge from the battle over his nomination to a second four-year term.

Bernanke faces a reappointment battle in the Senate, with a vote due by the end of the week.

Mr. Meyer revealed that Fed had "done an abysmal job" at regulating banks in the years preceding the financial instability, but he cite its extraordinary interventions in the market in 2008, under Mr. Bernanke, supported in shielding the economy from even greater harm.

Europe continues to be besieged by concerns over debt levels in some of the weaker members in the euro zone, particularly Greece and Ireland.