Title : FOREX TRADING PRICE ACTION SIGNALS Price Action Forex Trading Blog
link : FOREX TRADING PRICE ACTION SIGNALS Price Action Forex Trading Blog
FOREX TRADING PRICE ACTION SIGNALS Price Action Forex Trading Blog
* Dollar turns course vs yen to sold lower
* Investors await Fed's Yellen congressional testimony
* U.S. consumer inflation data due on Friday
* Graphic: World FX proportions 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 against a basket of major currencies on Tuesday ,
after U.S. President Donald Trump's eldest son released an email
chain quoting Russian support for his father before last year's
U.S. election .
Donald Trump Jr. was told a Russian attorney was offering
his father's presidential campaign incriminating info
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 inability of
this administration to pass any meaningful legislation ,
particularly relevant to fiscal stimulus ," suggested Omer Esiner ,
chief sell specialist at Commonwealth FX in Washington .
U.S. Senate Republican leader Mitch McConnell said on
Tuesday that the Senate would vote on a legislation 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 contenders, became negative on the working day to sold down 0.28
percent at 95.751, after smacking 95.651, its lowest since July
3 .
Investors are waiting for U.S. Federal Reserve Chair Janet
Yellen's semiannual monetary policy evidence before Congress on
Wednesday and U.S. buyer inflation data related to 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 rise harbours up. Formerly balance sheet reduction
is under way, she will assess inflation before deciding on
further interest rates rises, she supposed.[ nL1N1K10X8 ]
The greenback, which touched a four-month high-pitched against the
Japanese yen earlier in the session stimulation by the recent rise
in U.S. government bail harvests, altered direction to fall 0.16
percent to 113.85 yen. The euro rose to a 14 -month high of
$1.1479.
The Canadian dollar stole against its U.S .
counterpart as traders 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. harvests, soft commodity costs and a disappointing
report on domestic credit card spending mailed investors fleeing
kiwi resources .
Sterling fell to an eight-month low-grade against the euro after
the Bank of England Deputy Governor Ben Broadbent declined to
back up recent clues from other policymakers at the central bank
that suggested it may be moving toward developing interest rates .
[ nL4N1K240R ]