· The U.S. dollar hit a more than 2-1/2-year low against the euro on Monday on month-end portfolio adjustments and expectations for a more hawkish European Central Bank, and touched a more than six-week low against the yen on concerns over low U.S. inflation.
The dollar weakened further late in the day, as uncertainty over the U.S. political outlook increased after the departure of White House communications director Anthony Scaramucci, but then pared some losses.
The dollar index, which measures the greenback against a basket of six major currencies, hit its lowest since early May 2016 of 92.786 .DXY after the news of Scaramucci's departure. The dollar also hit a more than six-week low against the yen of 110.22 yen JPY=.
In the currency market, the euro EUR= traded at $1.1824, having risen to as high as $1.1846, its best level since January 2015, with a test of $1.20 within sight.
· The White House said on Monday that Anthony Scaramucci, named by President Donald Trump as communications director only 10 days ago, was leaving the post.
"Mr. Scaramucci felt it was best to give Chief of Staff John Kelly a clean slate and the ability to build his own team," the White House said in a statement.
· North Korea's latest test of an intercontinental ballistic missile (ICBM) has shown that Pyongyang now may be able to reach most of the continental United States, two U.S. officials told Reuters on Monday.
The assessment, which the officials discussed on condition of anonymity, underscored the growing threat posed by Pyongyang's nuclear and missile programs, and could add pressure on President Donald Trump's administration to respond.
· The Kremlin has ordered the United States to cut about 60 percent of its diplomatic staff in Russia but many of those let go will be Russian citizens, softening the impact of a measure adopted in retaliation for new U.S. sanctions.
Speaking to troops in Tallinn, Estonia, U.S. Vice President Mike Pence called Russia's actions "drastic" but said Washington would continue with its sanctions until Moscow stopped its "destabilizing activities in Ukraine and elsewhere."
· Contracts to buy previously owned U.S. homes rebounded in June after three straight monthly declines, but the housing market remained constrained by a shortage of properties available for sale.
The National Association of Realtors said its Pending Home Sales Index, based on contracts signed last month, jumped 1.5 percent, more than double economists' expectations for a 0.7 percent increase. The rise, however, only partially unwound the prior three months' declines.
· Benchmark Brent crude LCOc1 rose 0.3 percent to settle at $52.65. Brent earlier hit $52.92 a barrel, its highest since May 25. U.S. light crude oil CLc1 rose nearly 1 percent to settle $50.17 a barrel.
Oil prices rose to two-month highs on Monday, ending the strongest month of the year for crude futures, boosted in part by expectations of U.S. sanctions against Venezuela's oil sector and as supply concerns have waned in recent weeks.
That helped boost prices prior to settlement due to concern about possible limits on oil imports from Venezuela or exports of U.S. fuel to that country. After the close, however, the U.S. Treasury Department announced sanctions limited only to Venezuelan President Nicolas Maduro.
Reference: Reuters
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