The currency fell as low as $1.1878 on Monday before pulling up to $1.1914 in early European trading — still below the $1.1956 it bought in New York on Friday.

The euro suffered on Friday from a Hungarian official's warning about the state of his country's economy, which deepened anxiety over Europe's debt crisis. Hungary doesn't use the euro but is a European Union member.

Disappointing US jobs data also diminished markets' appetite for risk. The dollar is a traditional safe haven.

The British pound slipped to $1.4450 Monday from Friday's level of $1.4459. The dollar slid against the Japanese currency, falling to 91.28 yen from 91.51 yen.