The euro’s fall accelerated on Monday, putting the currency on course for its steepest one-day drop against the dollar since May, as investors bet that the EU-US trade deal would hurt the European economy. The single currency was down 0.9 per cent against the dollar at $1.164 in afternoon trading, and weakened by a similar amount against the pound.

Explore the impact of the new EU-US trade deal with 15% tariffs, market reactions, and investor concerns over growth, energy, and key industries.

The EU and US have agreed a trade deal that will hit most European imports with a 15 per cent tariff and require the bloc to invest hundreds of billions of euros into American energy products and weapons in order to stave off a trade war with the Trump administration.

The EUR/CHF cross extends its intraday descent during the American trading hours, pressured by persistent Euro weakness and steady demand for the Swiss Franc. At the time of writing, the pair is hovering around 0.9315, down nearly 0.22% on the day.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took

Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took a massive charge following a change in US laws.