The dollar strengthened its position on Monday after the United States and European Union established a trade tariff agreement which improved market sentiment and reduced trade tensions. President Trump and European Commission chief Ursula von der Leyen announced the agreement which established 15% EU goods tariffs instead of the previously threatened 30% rates. The euro value decreased by 0.7% to reach $1.1653 while the dollar gained strength against both the yen and pound. The reduction of trade tensions according to analysts will help restore dollar strength because policy uncertainty will decrease. Markets focus on upcoming Fed and BOJ meetings because they want to see future rate paths and potential policy statements.
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