Trump and the EU reached a trade framework to avoid 30 percent tariffs, with EU committing $750 billion in energy purchases and $600 billion investment.

The dollar rose against major peers on Monday after the United States and the EU struck a framework trade pact, the latest in a flurry of deals to avert a global trade war, with investors also looking to this week's U.

US President Donald Trump and EU chief Ursula von der Leyen confirm the deal after "tough negotiations" in Scotland.

President Donald Trump announced 15% tariffs on most goods from the European Union, down from the threatened 30%, as part of a trade agreement .

Trump, who has taken a particular liking to European Commission President Ursula von der Leyen, was swayed after she called him to say the EU would commit to moving “swiftly and decisively.” Trump soon backed off his threat and said negotiations would continue.

Global stocks rose and the euro firmed on Monday after a trade agreement between the United States and the EU lifted sentiment and provided clarity in a pivotal week headlined by the Federal Reserve and the Bank of Japan policy meetings.

Stocks were on track for another session of gains on Monday after President Donald Trump said he had struck a deal to set 15% tariffs on the European Union, reassuring investors after months of trade-based uncertainty.

The South China Morning Post, a Hong Kong-based English-language newspaper, reported on Sunday that "Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday,