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The US Dollar (USD) hesitates against the Swiss Franc (CHF) on Monday after rallying nearly 1.2% in the four previous trading days.

United Overseas Bank's (UOB) Quek Ser Leang and Lee Sue Ann turn more negative on AUD/USD after a sharp sell-off toward 0.7140. They now sees a real chance of testing and breaking the major 0.7100 support, with 0.7065 as the next downside level.

The USD/CAD pair trades marginally lower to near 1.3735 during the European trading session on Monday. The Loonie pair faces selling pressure as the US Dollar (USD) turns upside down due to hopes that the United States (US) and Iran will break the deadlock and reach a deal soon.

Crude Oil prices are giving away previous daily gains in the early European session on Monday.

Silver price (XAG/USD) is down over 1% to near $75.00 during the European trading session on Monday. The white metal extends its two-day massive decline as rising oil prices due to fears of the United States (US)-Iran war resumption have promoted global inflation expectations further.

Here is what you need to know on Monday, May 18:

The USD/JPY pair scales higher for the sixth consecutive day – also marking the seventh day of a positive move in the previous eight – and climbs to a two-and-a-half-week high during the Asian session on Monday.

The United Arab Emirates (UAE) officials said that a drone strike had triggered a fire near its nuclear power station, calling the incident a "dangerous escalation,” Reuters reported on Sunday.

Silver (XAG/USD) plunges on Friday, erasing all gains recorded earlier this week as hawkish Federal Reserve (Fed) expectations push US Treasury yields and the US Dollar (USD) higher.

The Euro (EUR) extends its decline against the Dollar (USD) on Friday, falling below 1.1650 for the first time since early April, on track for a 1.2% weekly depreciation.