
The Eurodollar declined to a two week low, with the dollar strengthening against its rivals after President Trump ordered tariffs on Japanese, Canadian and Brazilian goods, starting August 1st. Traders also awaited potential tariff news against the EU.
The British pound declined to a near three week low after worse than expected UK GDP and Manufacturing data undermined sterling.
The USD/JPY rose sharply after Japanese economists suggested that rate hikes might not take place until later this year due to uncertainty from recently imposed US tariffs.
Gold prices climbed to a one week peak ahead of anticipated US trade measures against the EU over the weekend.
U.S. stock prices surged to new record highs but ended lower as fears on trade and inflation combined, ahead of key US inflation data on Wednesday.
Oil prices climbed to a two week high after President Trump stated that a major announcement on potential Russian energy export sanctions would be made on Monday.