LONDON, Jan 30 Reuters The euro rose on Monday after unexpectedly high Spanish inflation data raised expectations for a higher euro area print on Wednesday, while the dollar languished near an eightmonth low ahead of a slew of central bank meetings this week.

The euro climbed 0.2 to 1.0891 after data showing Spain39;s consumer prices rose 5.8 in January compared with the same month last year, faster than the 5.7 onyear rise recorded in December and the first increase since last July.

Today39;s data will underline expectations for a 50 basis point hike from the ECB on Thursday and also signal that rates will be moved further up, said Niels Christensen, chief analyst at Nordea.

The U.S. dollar index, which measures the currency against a basket of its peers including the euro, was little changed at 101.88, having hit an eightmonth low of 101.50 last week.

It was down more than 1.6 in January and on track for a fourth consecutive monthly loss, pressured by expectations that the Fed is nearing the end of its ratehike cycle and that interest rates would not have to rise as high as previously feared.

Movements were still relatively subdued ahead of policy meetings at the Fed, the European Central Bank ECB and the Bank of England BoE later this week.

The euro has moved higher after the Spanish CPI data, but there39;s also riskoff sentiment which should be slightly positive for the dollar, Nordea39;s Christensen said, noting that equity futures were lower in the U.S. and…