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The dollar is down on concerns about Trump's presidency and US data

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rocky
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The dollar is down on concerns about Trump's presidency and US data

Post by rocky on Fri May 19, 2017 2:25 am

The dollar is down on concerns about Trump's presidency and US data

economy  Since 2017-05-18 at 12:19 (Baghdad time)

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The dollar slipped near a six-month low against a basket of major currencies on Thursday, finding it difficult to recover from its worst year-on-year loss against the yen and the euro as fears over Donald Trump's presidency mount.
The dollar rose about half a percent against the yen in Asian trading after a combination of recent weak US data and an investigation into Trump's relationship with Russia led the dollar to its biggest daily drop since July.
But the US currency has improved rapidly in early European trading to be stable against a basket of currencies used to measure the strength of the dollar and only 0.2 percent higher than its low against the yen and the euro.
In the past seven days, the dollar has fallen more than 3 percent against the yen and 2.5 percent against a basket of currencies.
By 0740 GMT, the dollar index was little changed at 97.616 after falling to 97.333 on Wednesday, its lowest level since Nov. 9.


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