U.S. dollar slumps amid Trump uncertainty

2017-05-19 21:15:59 GMT2017-05-20 05:15:59(Beijing Time) Xinhua English

NEW YORK, May 19 (Xinhua) -- The U.S. dollar declined againstother major peers on Friday as uncertainties about whether Trumpadministration could continue to push its economic reform agendaweighed on the market.

The White House earlier this week pushed back against a new waveof media allegations that President Donald Trump might have triedto obstruct justice by asking then FBI Director James Comey to enda probe into former national security adviser Michael Flynn.

"I hope you can let this go," Trump told Comey at the time,according to a New York Times report, quoting two people who readthe memo Comey wrote shortly after meeting with Trump in the OvalOffice one day after Flynn resigned over a Russia-related scandalin February.

"The market is responding to the probability that tax reform,infrastructure spending, healthcare reform and trade deals mightnot occur," Brendan Ahern, chief investment officer of Krane FundsAdvisors, told Xinhua.

The dollar index, which measures the greenback against six majorpeers, was down 0.79 percent at 97.105 in late trading, the lowestlevel since Nov. 9, 2016, the day the U.S. election results wereannounced.

In late New York trading, the euro rose to 1.1208 dollars from1.1098 dollars in the previous session, and the British poundclimbed to 1.3035 dollars from 1.2932 U.S. dollars in the previoussession. The Australian dollar inched up to 0.7464 dollar from0.7417 dollar.

The U.S. dollar bought 111.30 Japanese yen, lower than 111.55yen of the previous session. The U.S. dollar decreased to 0.9732Swiss franc from 0.9806 Swiss franc, and it fell to 1.3516 Canadiandollars from 1.3616 Canadian dollars. Enditem

| PRINT | RSS