Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
You can save money by doing a quick check and unsubscribing from apps you no longer use.Technologyread more
Investors are holding out hope that Fed Chair Jerome Powell lays the groundwork for a rate cut as soon as July. Even just one this year would be a mistake, says Amanda Agati,...Trading Nationread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Luckin's opportunity in China is "one of the world's greatest retail growth opportunities," according to KeyBanc Capital Markets.Investingread more
The U.S. dollar hovered around a nearly two-week low against a basket of major currencies on Monday after the biggest fall in Shanghai shares in eight years drove demand for safer currencies, while strong German economic data bolstered the euro.
Shanghai stocks tumbled 8.5 percent, dragging European shares down more than 1 percent and the U.S. benchmark S&P 500 index to its lowest in more than two weeks. The move led traders to favor the euro as well as the safe-haven Japanese yen and Swiss franc.
"Dollar weakness against the euro and the yen is a risk-aversion story reflecting China stocks," said Richard Franulovich, senior currency strategist at Westpac in New York.
He said traders who suffered losses in stock markets probably compensated by closing out short bets against the euro, which in turn helped that currency gain against the greenback. The euro was last up 1.02 percent against the dollar at $1.1094, near a two-week high of $1.11130.
The dollar also hit a nearly two-week low against the yen of 123.010 yen. The dollar was last down 0.43 percent against the yen at 123.26 yen.
Strong economic data also boosted the euro early on Monday.
The Munich-based Ifo Institute's business climate index rose to 108.0 from a revised 107.5 in June. That beat the Reuters consensus for a drop to 107.2 and was at levels consistent with a positive pace of growth.
Data on Monday showed non-defense capital goods orders, excluding aircraft, rose in June, but shipments of core capital goods slipped 0.1 percent. Those shipments are used to calculate equipment spending in the government's gross domestic product measurement.
"It certainly didn't help (the U.S. dollar)," said Kathy Lien, managing director at BK Asset Management in New York.
The market will watch the July 28-29 Fed meeting to see if policymakers provide clues for the timing of a rate "lift-off." Rising expectations that the Fed could begin hiking rates as early as September have been a major factor behind the dollar's gains over the past month.
The greenback was up 0.08 percent against the Swiss franc at 0.9628 franc.
The dollar index, which measures the greenback against a basket of six major currencies, was last down 0.73 percent at 96.41. That was near its session trough of 96.358, which was its lowest since July 14.