Eurozone interest rates are likely to remain unchanged for sometime as the European Central Bank President Christine Lagarde said restrictive policy has not ended and the bank may wait several meetings before easing rates again. Interest rates may not follow a linear downward path, Lagarde said in Paris in a joint interview to several European newspapers.

The Swiss franc climbed against the U.S. dollar and the euro in the New York session on Monday, as investors became cautious ahead of the Federal Reserve's interest rate decision and U.S. inflation data due this week.

A survey by the New York Fed showed on Monday that Americans' short-term inflation expectations eased slightly, while their view on price pressures in the longer term increased, and their expectations for the stock market hit a three-year high.

The Switzerland market ended notably lower on Monday after languishing in the red right through the day's session with investors largely staying cautious ahead of the Federal Reserve's monetary policy announcement and some key economic data, including a reading on U.S. consumer price inflation.

European stocks closed lower on Monday, weighed down by political concerns after French President Emmanuel Macron called for snap legislative elections later in June after the European Union elections showed a broader shift towards right-wing and far-right parties.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: America cuts drilling activity due to weak prices

Euro area elections drives EURUSD sharply lower; Fed decision and US inflation would have strong impact at US dollar index; Will BoJ decision affect USDJPY?

EUR/USD plummeted below 1.0800 and is currently hovering around 1.0796 on Monday morning. This development came amid heightened political tensions in France. President Emmanuel Macron called for early elections on Sunday in the wake of his party's crushing defeat and Marine Le Pen's party's resounding victory in the European Parliament elections.

US nonfarm payrolls surge past expectations - Dollar skyrockets as Fed rate cuts are scaled back - Euro slips as Macron calls snap election in France - S&P 500 pulls back after hitting new record high

Gold violates bullish structure; prints a head and shoulders pattern; Short-term risk is negative; confirmation signal awaited below 2,285