The euro showed resilience on Monday, holding steady against the dollar as investors bet the European Union will clinch a trade deal with the US and avoid the steep 30% tariffs threatened by Donald Trump over the weekend.

The euro fell to a three-week low on Monday while the Mexican peso also came under pressure after President Donald Trump threatened to impose a 30% tariff on imports from two of the largest U.S. trading partners beginning August 1.

Goods imported from both the European Union and Mexico will face a 30% U.S. tariff rate starting August 1, U.S. President Donald Trump said in letters posted to his social media platform on Saturday.