• The dollar fell to a more than six-month low against a basket of currencies on Monday, extending its losses from last week, as an uncertain U.S. political climate and a buoyant euro weighed on the greenback.
The dollar index, which tracks the greenback against a basket of six major rivals, was down 0.14 percent to 97.005. It fell to a low of 96.797, its lowest since Nov. 9, earlier in the session.
• Sterling extended losses after British police said they were treating an explosion in Manchester as a possible terrorist attack, while the euro retained gains made on comments by German Chancellor Angela Merkel that the common currency was "too weak."
Sterling remained under pressure after police said at least 19 people were killed and about 50 injured in an explosion at a concert in Manchester where U.S. singer Ariana Grande had been performing.
The pound GBP=D3 pulled back 0.1 percent to $1.299, extending Monday's 0.3 percent loss.
• The euro was up 0.25 percent against the dollar at $1.1232 after hitting a high of $1.1263, earlier in the session.
The euro EUR=EBS hit a six-month high overnight after Merkel said the weakness of the euro, due to the European Central Bank's monetary policy, helped explain Germany's relatively high trade surplus.
• Fed's Brainard: Labor market strength, stall in core inflation
• The White House is set to release President Donald Trump's first full budget on Tuesday, a plan that will include a cut of more than $800 billion from the Medicaid program for the poor and reductions in other social spending.
The Medicaid cuts were part of a Republican healthcare bill passed by the U.S. House of Representatives in early May, which aims to gut the Obama administration's 2010 law that expanded insurance coverage and the government-run Medicaid program.
• President Donald Trump urged two senior intelligence officials in March to publicly deny there was any evidence of collusion between the Trump campaign and Russia, the Washington Post reported on Monday, citing current and former officials.
Director of National Intelligence Dan Coats and National Security Agency Director Michael Rogers refused to comply with Trump's requests because they believed them inappropriate, according to two current and two former officials, the Post said.
• Oil prices rose on Monday as growing confidence that top exporters would agree to extend supply curbs this week and speculation that the cuts could be deepened further pushed prices to their highest levels in more than a month.
Brent futures rose 26 cents, or 0.5 percent, to settle at $53.87 a barrel, while U.S. West Texas Intermediate crude for June rose 40 cents, or 0.8 percent, to settle at $50.73 per barrel on its last day as the front-month.
Both contracts plus WTI futures for July delivery, which will soon be the U.S. front-month, closed at their highest levels since April 18.
• Greece's international lenders failed to reach a deal on Monday on additional debt relief measures for Athens after an 8-hour meeting in Brussels, the head of the eurogroup of eurozone finance ministers said.
Reference: Reuters, Forexlive