Title : Forex trading involves trading currencies to produce a profit. It
link : Forex trading involves trading currencies to produce a profit. It
Forex trading involves trading currencies to produce a profit. It
* Dollar alters course vs yen to trade lower
* Investors await Fed's Yellen congressional witnes
* U.S. customer inflation data due on Friday
* Graphic: World FX frequencies in 2017 http :// tmsnrt.rs/ 2egbfVh
( Updates throughout )
By Saqib Iqbal AhmedNEW YORK, July 11( Reuters)- The dollar fell to a more than
one-week low-toned against a basket of major currencies on Tuesday ,
after U.S. President Donald Trump's eldest son released an email
chain citing Russian support for "his fathers" before last year's
U.S. election .
Donald Trump Jr. was told a Russian lawyer was offering
his father's presidential campaign incriminating message
about Democratic competitive Hillary Clinton as part of Russian
government support, according to an email chain that he released
on Tuesday.[ nL1N1K209P ]
" At the least, these kinds of headlines play up
concerns about dysfunction in Washington and the incapacity of
this administration to pass any meaningful legislation ,
particularly related to fiscal stimulus ," responded Omer Esiner ,
chief market psychoanalyst at Commonwealth FX in Washington .
U.S. Senate Republican leader Mitch McConnell said here on
Tuesday that the Senate would vote on a statute to roll back
Obamacare next week and then move on to other legislative
business.[ nW1N1HW027 ]
The dollar index <.DXY>, which tracks the greenback against
six major competitors, moved negative on the day to sold down 0.28
percent at 95.751, after hitting 95.651, its lowest since July
3 .
Investors are waiting for U.S. Federal Reserve Chair Janet
Yellen's semiannual monetary policy affidavit before Congress on
Wednesday and U.S. buyer inflation data on Friday .
Meanwhile, Fed Governor Lael Brainard said the Fed should
soon begin reducing its balance sheet, as long as economic data
on U.S. jobs and proliferation comprises up. Formerly balance sheet reduction
is under way, she will assess inflation before deciding on
further interest rates rises, she mentioned.[ nL1N1K10X8 ]
The greenback, which touched a four-month high-pitched against the
Japanese yen earlier in the session spurred by the recent rise
in U.S. government alliance yields, reversed direction to fall 0.16
percent to 113.85 yen. The euro rose to a 14 -month high-flown of
$1.1479.
The Canadian dollar slipped against its U.S .
counterpart as merchants awaited an interest rate hike decision by
the Bank of Canada on Wednesday.[ nL1N1K20F4 ]
The greenback gained against the New Zealand dollar
as rising U.S. yields, soft stock rates and a disappointing
report on domestic credit card spending transmitted investors fleeing
kiwi resources .
Sterling fell to an eight-month low-pitched against the euro after
the Bank of England Deputy Governor Ben Broadbent declined to
back up recent suggestions from other policymakers at the central bank
that suggested it may be moving toward creating interest rates .
[ nL4N1K240R ]