The EUR/USD remains pressured during the North American session, below the 1.1700 figure as the Dollar got boosted by Trump unveiling new tariff letters on two of its largest trade partners, increasing appetite for haven assets. At the time of writing, the pair trades at 1.1667, down 0.15%.

US President Donald Trump revealed levies of 30% on the European Union (EU) and Mexico last weekend. Initially, investors' sentiment deteriorated, but traders seem to be fading from Trump's decision, amid speculation that Washington could backpedal on trade decisions.

Analysts cited by Reuters revealed that "Markets are really not willing to play the ups and downs of Trump's communications on tariffs." Traders are waiting for the release of inflation figures for June in the United States, Federal Reserve speeches, and Retail Sales data.

Across the pond, the EU revealed that it will extend its suspension of retaliatory duties on the United States (US) until early August, to keep communication channels open. The docket in the week would feature Industrial Production and the ZEW Survey Economic Sentiment for May and July, respectively, alongside the release of the Harmonized Index of Consumer Prices (HICP) for June.

In response to the tariff threats, the EU announced on Sunday that it will extend its suspension of retaliatory tariffs against the United States until early August, aiming to keep diplomatic channels open.

Source: Fxstreet