The euro is still under pressure on the financial markets in view of Europe's gas crisis.
On Monday morning, the common currency fell 0.7 percent to $ 0.9879, its lowest level in almost 20 years.
The last time a euro cost less was at the end of 2002.
The European Central Bank (ECB) set the reference rate at $0.9993 on Friday.
The euro has been burdened for some time by the uncertain supply of natural gas.
In the course of the day, investors should also keep an eye on economic data from the euro zone.
The purchasing manager indices for the service providers are published.
The US is largely quiet because of a public holiday.
The pound sterling fell similarly, hitting a two-and-a-half-year low at $1.1442.
Investors are also fleeing German stocks for fear of a recession due to a lack of gas deliveries from Russia.
The Dax fell by 3.4 percent premarket on Monday and is heading for its biggest daily loss since the beginning of March.
According to Rodrigo Catril, foreign exchange strategist at the National Australian Bank, Europe is likely to continue down if the full impact of the cracked gas supply from Rissland is yet to come.
Without gas, he sees no growth opportunities for the European economy, while the European Central Bank (ECB) will have to counteract the price increases with tight interest rate hikes.