The US dollar fell against other major currencies as US stock futures rose, following President Donald Trump's decision to delay tariff hikes against the European Union (EU).
The US dollar index initially fell before recovering and recouping most of its losses throughout the day. Meanwhile, EUR/USD gained 0.5% before closing 0.1% higher at $1.1378.
On Sunday, President Trump announced his agreement to delay a 50% import tariff on goods from the EU until July 9. The decision was made after a phone call with European Commission President Ursula von der Leyen.
Trump described their conversation as "very good", which led to the delay in the tariff hike. According to Trump, von der Leyen expressed her commitment to serious negotiations and asked for the implementation of the tariffs to be delayed from June 1 to July 9, a request that Trump ultimately agreed to. He also expressed confidence that negotiations could reach a quick resolution.
