- Home
- >
- Daily Accents
- >
- Dollar slips on political tensions; Barcelona attack in focus
Dollar slips on political tensions; Barcelona attack in focus
Rating:
Loading...The dollar slipped lower against other major currencies on Friday, as ongoing U.S. political tensions and doubts over an additional rate hike by the Federal Reserve this year continued to weigh, while a terror attack in Barcelona also dominated investors’ attention.
Sentiment on the greenback was vulnerable after eight chief executives quit two business advisory councils on Wednesday, in protest over U.S. President Donald Trump’s controversial remarks on weekend violence in Virginia. The U.S. President reacted to the departures by disbanding the councils – the American Manufacturing Council and the Strategic and Policy Forum.
White House Economic Adviser Gary Cohn denied rumors of his possible departure late Thursday. However, growing opposition to Trump’s positions, including from within his own party, have fueled concerns over the administration’s ability to implement its political agenda.
The dollar also remained under pressure after the minutes of the Fed’s July policy meeting released on Wednesday showed that members of the central banks remain divided over the need to raise interest rates further this year, citing low inflation.
The safe-haven yen was higher, with USD/JPY down 0.23% at 109.33 and EUR/USD was little changed at 1.1731, off the previous session’s three-week low of 1.1662.Meanwhile, GBP/USD edged up 0.17% to trade at 1.2890.
Investors remained cautious after the minutes of the European Central banks's latest meeting indicated concerns over the strength of the single currency.
The USD dollar index/DXY, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.11% at 93.54.
Source: Bloomberg Pro Terminal
Trader - S. Fuchedzhiev
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
