EUR/USD sank to its lowest level in over six months amid fears that U.S. policies, including tariffs, under President-elect Donald Trump could threaten growth in the euro zone.

The common currency has been further pressured by ongoing German political concerns following the collapse of the three-way governing coalition.
German Chancellor Olaf Scholz said over the weekend he would be willing to call a vote of confidence in parliament before Christmas.

Additionally, the Netherlands announced it will impose controls on its land borders to curb immigration.

The dollar index surged to its highest level since early July.
U.S. trading was thinned by the Veterans Day holiday and closed bond markets.
Focus turns to inflation data and Fed speakers later this week.

The pound rose against the euro for a fifth session, reaching a new two-year high.
U.K. data this week includes September employment and GDP.

The Mexican peso was lower after Tom Homan was selected as Trump's "border czar" and CNN reported immigration hard-liner Stephen Miller would be White House deputy chief of staff for policy.

Commodity currencies were dragged lower by falling metal prices and a 3% slump in oil.
Disappointment over China's stimulus plan and expectations of more U.S. energy production once Trump takes office weighed on the commodity complex.

Treasury markets were closed due to a U.S. holiday.

The S&P 500 was little changed with financial shares gaining while tech fell.

Gold slid 2.70% amid a broadly stronger greenback.
Bitcoin surged to a record.

Copper fell 1.5% to a seven-week low on the stronger dollar and weak Chinese credit data.

Heading toward the close: EUR/USD -0.67%, USD/JPY +0.75%, GBP/USD -0.50%, AUD/USD -0.21%, DXY +0.54%, EUR/JPY +0.10%, GBP/JPY +0.29%, AUD/JPY +0.56%.

For more click on FXBUZ