The buying pressure around the shared currency is picking up extra pace at the beginning of the week and is now pushing EUR/USD to the vicinity of the critical 1.2000 milestone. The rally in the European currency stays well and sound on Monday, advancing to the boundaries of the critical 1.2000 handle and closer to the key up barrier at 1.2020, home of the 200-day sma. The continuation of the softer bias around the greenback has prompted the US Dollar Index (DXY) to retreat to fresh 2-week lows in the 92.40/35 band after clinching 2018 tops in the mid-93.00s last week. In the data space, speeches by ECB’s Praet, Lautenschlaeger and Coeure are due throughout the session. On the USD-side, Cleveland Fed L.Mester (voter, hawkish) said on CNBC the Fed could have to raise rates beyond 3%.(source: fxstreet)