U.S. Dollar Falls On U.S. Political Uncertainty
24 Julio 2017 - 2:35AM
RTTF2
The U.S. dollar declined against its most major opponents in
European deals on Monday, as the resignation of Sean Spicer as
White House Press Secretary highlighted political upheaval in
Trump's team, which has been already engulfed by investigation
related to Russia's meddling in the U.S. election.
Spicer's resignation came after President Donald Trump decided
to name Wall Street financier Anthony Scaramucci as the new White
House communications director.
Spicer's top deputy, Sarah Huckabee Sanders, will serve as press
secretary.
The shake-up of Trump's communications team came against the
backdrop of news that special counsel Robert Mueller is broadening
Russia probe to include Trump's business transactions
Trump's son-in-law, Jared Kushner, testifies before the Senate
Intelligence Committee on Monday and the House of Representatives
Intelligence Committee on Tuesday. "No part of the meeting I
attended included anything about the campaign, there was no follow
up to the meeting that I am aware of, I do not recall how many
people were there (or their names), and I have no knowledge of any
documents being offered or accepted," Kushner said in a prepared
statement published ahead of the testimony.
Investors await Markit's flash PMI report for July and existing
home sales data for June later in the day for more clues about the
economy.
The currency has been trading in a negative territory in the
Asian session.
The greenback fell to 110.62 against the yen, its lowest since
June 15. Continuation of the greenback's downtrend may see it
challenging support around the 109.00 region.
Figures from the Cabinet Office showed that Japan's leading
index increased less than initially estimated in May.
The leading index, which measures the future economic activity,
rose to 104.6 in May from 104.2 April. The reading for May was
revised down slightly from 104.7.
Reversing from an early high of 1.2989 against the pound, the
greenback slipped to a 5-day low of 1.3049. The greenback is poised
to find support around the 1.32 area.
The greenback fell back to 0.9446 against the franc, from a high
of 0.9475 hit at 3:00 am ET. If the greenback-franc pair extends
slide, 0.93 is likely seen as its next support level.
The greenback dropped to a 4-day low of 0.7967 against the
aussie, after having advanced to 0.7901 at 5:00 pm ET. On the
downside, 0.81 is likely seen as the next support level for the
greenback.
On the flip side, the greenback rose to 1.1630 against the euro,
from an early near a 2-year low of 1.1684. The greenback is seen
finding resistance around the 1.13 region.
Flash data from IHS Markit showed that the Eurozone private
sector started the third quarter on a solid footing but the pace of
growth slowed for the second successive month in July.
The composite output index fell to a 6-month low of 55.8 in July
from 56.3 in June. The reading was expected to drop marginally to
56.2.
Looking ahead, Canada wholesale sales data for May, U.S.
Markit's flash PMI reports for July and existing home sales data
for June are slated for release in the New York session.
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