Frankfurt  - The euro rose slightly against the dollar Monday, continuing a two-week trend, as traders anticipated negative economic data in the United States.

Trading volumes were off as a result of the Memorial Day holiday in the US.

The European Central Bank (ECB) set its reference rate at 1.5761 dollars, up from 1.5742 recorded on Friday. The single European currency recorded a similar rise against the pound, but was steady to the yen and fell slightly against the Swiss franc.

Helaba currency expert Ralf Umlauf said the market had priced in interest rate rises in the United States, the eurozone and Britain in the face of inflation concerns.

The euro was last at this level to the dollar a month ago.

On the basis of the ECB daily reference rates, the euro hit an all-time record high against the US currency of 1.5940 on April 23, before falling to a recent low of 1.5347 on May 8.

Since then the course has been steadily upward.

US new residential sales and consumer confidence data are due out Tuesday. (dpa)