NEW YORK: The euro climbed to a session high against the dollar on Monday while the US currency pared gains against the yen as investors positioned ahead of the Federal Reserve's policy announcement.

The euro was last up 0.2 percent at $1.3374 with a session peak of $1.3379. The dollar traded up 0.4 percent at 94.45 yen, closer to a session low of 94.08 yen than the session peak of 95.21 yen.

The Fed will release its policy statement at the conclusion of its two-day meeting at 2 p.m. EDT (1800 GMT) on Wednesday.