The U.S. dollar index (DXY) rose on Monday after the United States and China agreed to a deal to slash reciprocal tariffs for 90 days following weekend trade talks in Geneva aimed at de-escalating tensions.

The dollar climbed against its safe-haven counterparts on Monday after weekend talks between the United States and China eased concerns of a damaging trade war between the world's two biggest economies while global hot spots appeared to cool.

China’s best choice under the current environment is to keep the yuan stable against the dollar, while allowing it to depreciate against a basket of other currencies, said Wang Jinbin, economics professor at the Renmin University of China. Such a strategy would steady capital flows, while aiding Chinese exports, he said.