The euro rose to a one-month high versus the yen and a one-week high versus the dollar on Monday, boosted by news that the United Arab Emirates' central bank is considering putting more of its reserves into euros. The bank said on Sunday it was looking to convert up to 10 percent of its foreign exchange reserves from dollars into euros -- double the target it had previously set. The reserves are estimated at $23 billion in December and are held almost entirely in dollars. The dollar retreated from a one-month high against the yen and a 10-week high versus sterling, which it hit at the end of last week after news of a 243,000 rise in February U.S non-farm payrolls boosted U.S. rate hike expectations. "The dollar has lost some oomph and is losing momentum after the jobs data on Friday. I think the U.S. numbers this week will come in a bit softer," said Mitual Kotecha, head of global foreign exchange research at Calyon. "These comments from the UAE can only be dollar negative," he added. Further souring dollar sentiment, Iran said on Monday its dollar transactions had been restricted by seven or eight international financial institutions and warned it could switch its holdings into other currencies. U.S. data due on Tuesday is expected to show a fall in retail sales in February and that the U.S. current account deficit widened in the fourth quarter. The U.S. Federal Reserve is widely expected to raise rates to 4.75 percent at its March 27-28 meeting and then move at least once more in the coming months. By 1100 GMT the euro was up slightly against the dollar at $1.1925, moving off a one-week high of $1.1970 hit earlier in the day. The euro also hit a seven-month high versus sterling at 69.28 pence, after breaking through a key technical level on Friday, and at a two-year high versus the Swiss franc at 1.5722 francs Traders said that sentiment for the dollar was dampened by concerns that the Dubai Ports furore will hamper foreign investment into the United States. U.S. lawmakers are opposing a $6.85 billion deal under which Dubai Ports World of the United Arab Emirates acquired the global assets of Britain-based P&O, including management operations of some facilities at six major U.S. ports.