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.

US President Donald Trump has threatened to impose steep tariffs of 20 to 50 per cent on imports from 23 countries, including the EU, Mexico, Japan, and Canada, unless new bilateral trade deals are reached by August 1.

The euro fell to a three-week low on Monday, while the Mexican peso weakened after U.S. President Donald Trump threatened to impose 30% tariffs on imports from the European Union and Mexico starting August 1.