The US dollar fell as safe-haven demand drove the Japanese yen and Swiss franc up by 1%.

Trump's policies have prompted investors to sell US assets, causing the dollar to fall on Monday and boosting non-US currencies such as the yen and Swiss franc. JPMorgan predicts that the selling trend will continue. With no progress on trade agreements, the US Dollar Index fell by 0.5% on Monday, down nearly 7% so far this year. Disappointing manufacturing data on Monday heightened concerns about US economic growth and weighed on the dollar. The yen and other safe-haven currencies like the Swiss franc rose by about 1%. The pound rose to its highest level in three years.