• The U.S. dollar climbed to a two-month high against the yen on Monday and global equity markets rallied, lifted by robust economic data from Germany and renewed interest in U.S. technology stocks spurred by an Amazon online sale event.
The dollar rose after the Bank of Japan last week offered to buy an unlimited amount of bonds and following an unexpected drop in May in Japanese machinery orders that pressured the yen.
The dollar index .DXY, which tracks the greenback against six major rivals, was little changed at 96.053. Against the yen JPY= the dollar rose 0.13 percent, to 114.03 yen, after earlier hitting 114.29 yen, its highest since May 11.
The dollar index, which tracks the greenback against a basket of six major rivals, added 0.1 percent to 96.094 .DXY ahead of Yellen's semi-annual monetary policy testimony before Congress on Wednesday and Thursday.
The dollar index, which tracks the greenback against a basket of six major rivals, added 0.1 percent to 96.094 .DXY ahead of Yellen's semi-annual monetary policy testimony before Congress on Wednesday and Thursday, while the euro inched slightly lower on the day to $1.1393 EUR=.
• Republican senators returned to Washington on Monday following a 10-day holiday recess still at odds with one another over legislation President Donald Trump wants passed to repeal major portions of Obamacare.
With only three weeks left before a summer recess scheduled to stretch until Sept. 5, Senate Majority Leader Mitch McConnell appeared determined to keep trying to find agreement on a partisan, all-Republican bill.
• Donald Trump Jr. has hired a lawyer to represent him in Russia-related investigations, his office and the lawyer said on Monday, as Republicans voiced concern about a meeting between the U.S. president's son and a Russian.
Trump Jr. hired New York lawyer Alan Futerfas, who specializes in criminal defense and whose clients have included reputed organized crime figures, computer hackers and white-collar criminals.
• U.S. President Donald Trump plans to nominate former Treasury official Randal Quarles to be the Federal Reserve's top banking regulator, the White House said on Monday.
If confirmed by the Senate, Quarles would be the first vice chair of supervision at the Fed, a role created after the 2008 financial crisis but never filled during the Obama administration.
• Oil prices rose modestly on Monday, but increased drilling activity in the United States and uncertainty over Libyan and Nigerian production cuts clouded the future supply outlook.
U.S. crude futures settled up 17 cents or 0.4 percent to $44.40 a barrel, while Brent crude futures also rose 17 cents or 0.36 percent to $46.88 a barrel.
Despite the modest rally on the day, Brent crude prices were 17 percent below their 2017 opening level.
Reference: Reuters
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