The index managed to carve out gains on Monday, brushing aside the Ukraine crisis and a downbeat China manufacturing survey. The common currency was expected to remain under pressure ahead of Thursday's European Central Bank policy meeting. While many market participants do not expect the ECB to take major easing steps this week, a few are seen braced for new policy measures with further central bank easing considered a matter of when and not if in the face of risks to euro zone growth posed by the Ukraine conflict and stubbornly low inflation. "This week may start to mark the biggest shift in global monetary policy since 'Abenomics' went into full steam on the appointment of Haruhiko Kuroda to head up the BOJ," equity strategists at Jefferies wrote in a note to clients.
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