The euro is falling against the dollar as European Union finance ministers meet in Brussels to discuss the region's debt crisis.

The euro fell to $1.3006 in afternoon trading from $1.3017 late Friday.

The finance ministers are discussing how to fund a long-delayed bailout for Cyprus and get a region-wide bank rescue fund working.

Later this week, the European Central Bank will meet to set interest rates. No change is expected, but traders will be looking to see whether ECB head Mario Draghi offers any hints about the state of Europe's economy.

The British pound rose to $1.5096 from $1.5018.

The dollar fell to 93.37 Japanese yen from 93.58 Japanese yen.