The dollar strengthened at the start of the week after the United States and the European Union reached a trade agreement, avoiding the threat of a large-scale trade war. US President Donald Trump and European Commission President Ursula von der Leyen met in Scotland and agreed to lower tariffs on EU goods to 15%, half the level initially planned for August 1.

The deal with the EU followed a recent agreement between the US and Japan. Meanwhile, negotiations between the US and China have started in Stockholm to discuss extending the current “trade truce” for another three months.

The euro fell to $1.1693, losing 0.4% on the day. At the same time, the dollar rose 0.15% against the yen to 147.83, while the British pound dropped to $1.3428. Market participants shifted focus from tariff risks to the upcoming meetings of the Fed and the Bank of Japan, where interest rates are expected to remain unchanged.

In the crypto market, Ethereum rose 1.7% to $3,940.25 — its highest level since December 2024.