The euro fell to a three-week low early on Monday while the Mexican peso also came under pressure after U.S. President Donald Trump threatened to impose a 30% tariff on imports from two of the largest U.

Senior EU officials told the FT that they did not expect Trump to ultimately go through with his new threat of 30 per cent tariffs, which is being widely interpreted by Brussels as a bid by the US President to increase pressure on the bloc in the remaining time left for negotiations.