The euro edged up slightly against the U.S. dollar in trading Monday as traders looked to key interest rate decisions from Frankfurt and London later this week. The euro bought $1.2174 in early European trading, up slightly from $1.2129 in New York late Friday. The British pound rose to $1.7609 from $1.7576. The Bank of England meets Thursday to decide whether to adjust interest rates there. The dollar fell against the Japanese yen, dropping to 112.21 from 112.31 yen after Tokyo said it would slap 15 percent levies on U.S. steel imports starting Sept. 1 in retaliation for American steel industry protection measures. The tariffs, which could rise as high as 5.7 billion yen ($51 million), will target ballbearings, airplane parts and other steel products, Japan's Ministry of Economy, Trade and Industry said. Japan has long demanded the repeal of duties imposed by the United States on Japanese steel products under the so-called Byrd amendment, an antidumping law ruled illegal by the World Trade Organization. Traders also looked to Thursday's meeting of the European Central Bank, which will decide whether to change interest rates for the 12-nation euro zone or leave them unchanged at 2 percent, a level they have stood at for more than two years.