The dollar rose on Monday amid a weaker euro and yen, as market participants continued to assess political tensions in France and a rebound in Treasury yields.
The Bloomberg Dollar Index rose as much as 0.5%, while the euro fell after a far-right French party threatened to overthrow the government amid a budget impasse. Futures on the Euro Stoxx 50 fell 0.9%, indicating a weak open. French bond futures fell.
The euro fell as much as 0.6%. The single currency may see further weakness after Governing Board member Martins Kazaks told broadcasters the European Central Bank should continue to cut borrowing costs.
Among the week's major global events, Fed Chair Jerome Powell is due to participate in a moderated discussion on Wednesday. U.S. jobs data is due Friday.
In Asia, stocks rose on signs of economic stabilization in China. Manufacturing activity in the world's second-largest economy expanded for a second straight month in November, a private survey showed on Monday.
Chinese data also supported oil prices. A stronger U.S. dollar led to a decline in gold prices.
The Bloomberg Dollar Spot Index rose 0.5%. The euro fell 0.5% to $1.0523. The Japanese yen fell 0.6% to 150.64 per dollar. The offshore yuan fell 0.5% to 7.2838 per dollar.
Source: Bloomberg
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