The euro suffered its steepest one-day drop against the dollar since May on Monday, as Germany and France voiced fears that the long-awaited EU-US trade deal would hurt the European economy.

The U.S. dollar ( DXY) rose on Monday, while the euro was down after the United States and the European Union reached a trade deal. The greenback was last up 0.59% ahead of this week’s Federal Reserve meeting. Despite the gain on Monday, the dollar was still on course for a weekly drop of around 1%.