· The dollar struggled near a 13-month low against a basket of major currencies on Monday as U.S. political woes dampened hopes for quick passage of President Donald Trump's stimulus and tax reform agendas.
· The Trump administration, already dogged by investigations into alleged Russian meddling in the U.S. election, took a fresh hit on Friday after White House spokesman Sean Spicer resigned, highlighting an upheaval within the president's inner circle.
- The dollar index against a group of six currencies was little changed at 93.854, after touching 93.847, its lowest since June 2016.
- The euro was 0.2 percent higher at $1.1681 after advancing to a 23-month high of $1.1683 on Friday.
The common currency has been on a bullish footing after what the markets perceived as hawkish talk from European Central Bank President Mario Draghi in recent weeks.
- The dollar slipped 0.2 percent to 110.965 yen, with the Japanese currency at its strongest in five weeks.
· The benchmark 10-year U.S. Treasury note yield hit a three-week low on Friday with a retreat in Wall Street shares kindling safe-haven demand for debt. [US/]
· The White House said on Sunday that U.S. President Donald Trump was open to signing legislation toughening sanctions on Russia after Senate and House leaders reached agreement on a bill late last week.
· Congressional Democrats said on Saturday they had agreed with Republicans on a deal allowing new sanctions targeting Russia, Iran and North Korea in a bill that would limit any potential effort by Trump to try to lift sanctions against Moscow.
"We support where the legislation is now and will continue working with the House and Senate to put those tough sanctions in place on Russia until the situation in Ukraine is fully resolved and it certainly isn't right now," White House Press Secretary Sarah Sanders told ABC's "This Week with George Stephanopoulos" program.
A White House official said the administration's view of the legislation evolved after changes were made, including the addition of sanctions on North Korea.
· Business minister Greg Clark will launch the first phase of a 246 million pound investment into battery technology on Monday, part of the government's industrial strategy to boost productivity and spread wealth in Britain.
· Oil ended at its lowest level in a bout a week on Friday, with expectations for a rise in OPEC output pressuring prices ahead of coming meeting of major producers.
September West Texas Intermediate crude CLU7, -0.22% lost $1.15, or 2.5%, to settle at $45.77 a barrel on the New York Mercantile Exchange after a low at $45.71. That was the lowest since July 12, according to FactSet data. For the week, the contract saw a loss of roughly 2.1%. Based on the front-month August contract finish of $46.54 last Friday, prices have lost about 1.7% for the week.
September Brent crude LCOU7, -0.19% on London’s ICE Futures exchange fell $1.24, or 2.5%, to $48.06—down about 1.7% from a week ago. The international benchmark had tapped the $50-a-barrel level for the first time in more than a month on Thursday before giving up gains in a move that some attributed to profit-taking.
· The moves in crude come ahead of a meeting Monday of OPEC oil ministers with some other producers who are not members of the group, including Russia. They are set to review the production-cut deal, which is set to expire at the end of March next year.
Reference: Reuters, Market Watch
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