NEW YORK (CNNMoney.com) -- The euro posted minor gains against the dollar Tuesday morning, after reaching fresh four-year lows the previous day.
What prices are doing: In global trading Tuesday morning, the euro hovered about 0.2%, or 0.2 cents higher against the dollar at $1.19.
Meanwhile, the dollar gained about 0.3% against both the British pound and Japanese yen. Against the dollar, the pound was worth $1.44 in morning trading, and the U.S currency traded at about ¥91.66.
What's moving the market: Over the last three months, fears about Europe's debt crisis have driven the region's shared currency to plunge more than 12% against the dollar, as risk-averse investors opt for the safe-haven appeal of the greenback.
Moderately optimistic comments from Federal Reserve Chairman Ben Bernanke at a forum Monday helped ease investors' fears about a double-dip recession in the U.S., increased appetite for risk in Asian financial markets and sent the euro on a slight rally overnight, said Boris Schlossberg, director of currency research at Global Forex Trading.
Bernanke told reporters he expects to see a continued recovery based on a "good bit of momentum in consumer spending and investment," but the recovery "won't feel terrific."
After the initial reaction to Bernanke's comments wore off, the euro retreated from its overnight highs. Its movement Tuesday will depend on how U.S. stock markets fare, Schlossberg said.
Investors remain jittery about the global economic recovery. Concerns about the euro's lows amid Europe's debt crisis and a disappointing U.S. jobs report that came out on Friday spilled over into financial markets Monday, sending U.S. financial markets plunging to 7-month lows.
Losses last week put the euro near $1.18, where it traded when it debuted as a currency on Jan. 4, 1999.
Looking ahead: Currency traders will watch for possible monetary policy announcements from two major euro zone meetings this week. European Union finance ministers are meeting Tuesday and are expected to hold a press conference later in the day.
European Central Bank officials also plan to meet on Thursday in Frankfurt.
