The EUR/USD pair pulled back from its 1-year high on Friday as traders rushed to grab more dollars.

The EUR/USD exchange rate was back below $1.10 on Friday and remained pressured in early trading Monday. The greenback is back in fashion after several economic reports pointed to persistent inflation pressures in the world’s biggest economy.

Against that backdrop, officials from the Federal Reserve rekindled fears that more rate lifts will be needed to stamp out stubborn price increases. On top of that, strong earnings from big banks indicated that Wall Street has been responding adequately to the Fed’s rate hike campaign.

Euro bulls had to find their way back just after the European currency was getting into its stride. Looking ahead, this week will be fairly light on economic news and reports. Inflation data for the euro zone is expected to have flatlined at 6.9% in March.