The U.S. dollar index decreased against other major currencies in late trading on Monday, as the United States and Mexico reached a trade deal.

The United States has reached a trade agreement with Mexico that would pave the way for overhauling the North American Free Trade Agreement (NAFTA), U.S. President Donald Trump announced on Monday.

"We're going to call it the United States-Mexico trade agreement," Trump said at an event in the Oval Office with outgoing Mexican President Enrique Pena Nieto joining by conference call.

U.S. Trade Representative Robert Lighthizer, at the same event in the Oval Office, said he expects to submit a notice to Congress on Friday and the new trade agreement is likely to be signed at the end of November.

But it remains unclear whether Canada will be part of the final pact.

There is no major economic data due out Monday.

The dollar index, which measures the greenback against six major peers, was down 0.39 percent at 94.7780 in late trading.

In late New York trading, the euro rose to 1.1679 dollars from 1.1625 dollars in the previous session, and the British pound gained to 1.2893 dollars from 1.2847 U.S. dollars in the previous session. The Australian dollar increased to 0.7346 dollar from 0.7324 dollar.

The U.S. dollar bought 111.10 Japanese yen, lower than 111.20 Japanese yen of the previous session. The U.S. dollar decreased to 0.9796 Swiss franc from 0.9828 Swiss franc, and it fell to 1.2964 Canadian dollars from 1.3028 Canadian dollars.