Euro fell on the European market on Monday against a basket of global currencies, down from a one-week high against the US dollar on its way to the first loss in three days as trade tensions between the EU and the United States intensified. Continue within the European Union and the single currency.

Euro fell against USD by 0.1% as of 07:55 GMT, trading at $ 1.1645, the opening price of the day at $ 1.1665, the highest at $ 1.1672 and the lowest at $ 1.1628.

Euro ended Friday’s trading up 0.5% against the US dollar, its second daily gain in a row, hitting a one-week high of $ 1.1675 after strong data from the services sector in Europe in June.

Over the past week, Euro gained 0.45% against the dollar, its second gain in the past three weeks, recovering from a 11-month low of $ 1.1508.

EURUSD chart

US President Donald Trump has threatened to impose a 20 percent tariff on all imported vehicles from the European Union, and the EU has responded by stressing that there is no choice but to respond to such a move.

The current trade dispute between the EU and the United States will worsen the path of economic growth in the Eurozone, and Europe’s economic growth unexpectedly fell in the first half of this year, which will lead to further decline in the second half.

Italy’s top legislator said on Friday that the Italian government would not look to get out of the European Union and continue with the single currency.