Title : Forex Trading Signals to Avoid
link : Forex Trading Signals to Avoid
Forex Trading Signals to Avoid
* Dollar reverses track vs yen to trade lower
* Investors await Fed's Yellen congressional affidavit
* U.S. buyer inflation data due on Friday
* Graphic: World FX rates 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 prosecutor was offering
his father's presidential campaign incriminating info
about Democratic rival Hillary Clinton as part of Russian
government support, according to an email chain that he liberated
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 related to fiscal stimulus ," read 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 parliamentary
business.[ nW1N1HW027 ]
The dollar indicator <.DXY>, which tracks the greenback against
six major challengers, made negative on the working day to trade down 0.28
percent at 95.751, after making 95.651, its lowest since July
3 .
Investors are waiting for U.S. Federal Reserve Chair Janet
Yellen's semiannual monetary policy testimony before Congress on
Wednesday and U.S. customer inflation data on Friday .
Meanwhile, Fed Governor Lael Brainard said the Fed should
soon begin reducing its balance sheet, as long as financial data
on U.S. employment creation and growth harbours up. Once balance sheet reduction
is under way, she will assess inflation before deciding on
further interest rates rises, she articulated.[ nL1N1K10X8 ]
The greenback, which touched a four-month high-pitched against the
Japanese yen earlier in its present session spurred by the recent rise
in U.S. government bond yields, reversed track to drop 0.16
percent to 113.85 yen. The euro rose to a 14 -month high of
$1.1479.
The Canadian dollar slipped 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. crops, soft stock prices and a disappointing
report on domestic charge card spend mailed investors fleeing
kiwi assets .
Sterling fell to an eight-month low against the euro after
the Bank of England Deputy Governor Ben Broadbent decreased to
back up recent indications from other policymakers at the central bank
that suggested it may be moving toward developing interest rates .
[ nL4N1K240R ]