The euro hit a one-month low against the dollar on Tuesday as investors sobered up to the fact that terms of the trade deal between the U.S. and the European Union favoured the former and did little for the bloc's economic outlook.

US stocks were mixed Monday and the S&P 500 eked out a record high for the sixth day in a row as investors digested the announcement of a trade deal between Washington and Brussels.

The U.S. and European Union agreed on trade terms that include a 15% across-the-board rate on EU products as well as hundreds of billions of dollars of investments in American industry. President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to iron out the agreement.

The dollar gained against major currencies including the euro and yen on Monday with sentiment lifted by a trade agreement between the U.S. and the EU, which brings market certainty and averts a global trade war.