Key facts
- The dollar index fell 0.22% to 101.76 on Monday after touching 101.42, its lowest since September 30.
- Crude prices fell about 7% as talks between Iranian and Qatari officials raised hopes of reduced Middle East supply disruptions, per the report.
- The euro rose 0.3% to $1.1192 and sterling rose 0.1% to $1.3406, while the dollar gained 0.23% against the yen to 157.89 yen.
- The ISM manufacturing index rose to 55.5 last month from 54.5 in September, the report said.
The dollar eased on Monday, November 2, as oil prices fell and Treasury yields retreated ahead of a week carrying US midterm elections, US labor market data and central bank rate decisions, Reuters reported.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.22% to 101.76 after declining to 101.42, its lowest since September 30, according to the report. The euro rose 0.3% to $1.1192. Sterling rose 0.1% to $1.3406, and the dollar was up 0.23% against the yen at 157.89 yen.
Crude prices fell about 7% as talks between Iranian and Qatari officials on ending the war with Iran raised the possibility of fewer Middle East supply disruptions, the report said. The Institute for Supply Management said its manufacturing index rose to 55.5 last month from 54.5 in September, while input prices remained high.
Bitcoin fell 1.5% to $76,645.42 and ether fell 1.14% to $2,236.50, the report said, after a $6.3 billion heist at Binance. The report said Binance customers have withdrawn almost $5 billion from the exchange since it reopened after the hack.
Americans were due to vote on Tuesday on which party controls Congress. Marc Chandler, chief market strategist at Bannockburn Capital Markets in New York, said of the oil retreat: "When we went into the weekend, everything looked bad. Stocks had sold off, oil was at new contract highs in the December WTI. And we come back from the weekend, and this is a collective sigh of relief."
The report said the Bank of England looked set to raise interest rates that week, and that central banks in Britain, Australia, Norway and Sweden were scheduled to issue policy statements.