Euro steadied against the U.S. dollar in Europe on Monday, after previously hitting a seven week high earlier in the session as data showed German Business confidence improved more-than-expected this month to hit the highest level since July 2011. The 18-nations shared currency edged higher against the dollar as a report showed German IFO business confidence resumed its advance for a fifth straight month in February. The business climate index climbed to 111.3 in February, the highest since July 2011. Meanwhile a separate report showed euro-area inflation was faster than previously estimated last month. The reading came in line with forecast of 1.1 percent decline from 0.3 percent, while annual reading lingered at 0.8 percent unexpectedly. The low inflation poses a real threat to the Eurozone's recovery trip after the recent gradual progress in economic data. Lower inflation numbers fuels expectations the European Central Bank may have sufficient grounds to lower interest rates or take other stimulus measures. Euro added 0.11 percent over the dollar so far in the day, last trading at $1.37589 after opening at $1.37315. The pair so far hit a session high at $1.37696 and session low at $1.37280. Euro firms after Draghi comments, G20 targets additional 2% economic growth European Central Bank President Mario Draghi Sunday signaled the central bank`s March policy meeting will be critical in determining whether the central bank will act and provide additional stimulus or not, while he added the bank will not hesitate to add further stimulus should inflation outlook deteriorate. At the Group of 20 meeting of finance ministers and central bank chiefs held over the weekend in Sydney, the participating nations announced they will aim to increase global growth by at least two percentage points over the next five years. G20 finance ministers and central bank governors set the growth goal, an ambition that translates to about $2 trillion (£1.2 trillion) in extra output. The Japanese yen lost 0.04 percent against the euro, pushing the EURJPY higher to trade at ¥104.791 after opening at ¥104.727. The pair so far hit a session high at ¥141.025. Ukraine political turmoil ease as parliament outs president The common currency was further supported by signs of settling down in Ukraine following a week of chaos amid battles between anti-government demonstrators and police in Kiev. The bloodbath brought mounting international pressure government to end the crisis. In a day full of fast and decisive developments over the weekend, Ukraine's Parliament voted to remove President Viktor Yanukovych, who abandoned his Kiev office to protesters, while holding elections on May 25. The euro was little changed against the sterling pound, where EURGBP pair is currently trading around 0.82536 after hitting a peak of 0.82851. Moody's upgrades Spain's rating with positive outlook Euro gained after Spain's credit rating was raised to Baa2 by Moody's Investors Service with "positive" outlook a few months after raising it to "stable" from "negative", citing a more sustainable growth model and structural reforms in the country`s labor market and pension system.