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Free Forex Trading Signals with XM Trading Point Holdings Ltd
* Dollar turns course vs yen to sold lower
* Investors await Fed's Yellen congressional testament
* 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-grade against a basket of major currencies on Tuesday ,
after U.S. President Donald Trump's eldest son released an email
chain quoting Russian is supportive of 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 report
about Democratic rival Hillary Clinton as part of Russian
government support, according to an email chain that he released
on Tuesday.[ nL1N1K209P ]
" At the very least, these types of headlines play up
concerns about dysfunction in Washington and the powerlessnes of
this administration to pass any meaningful legislation ,
particularly relevant to fiscal stimulus ," replied Omer Esiner ,
chief market analyst at Commonwealth FX in Washington .
U.S. Senate Republican leader Mitch McConnell said on
Tuesday that the Senate would vote on a statute 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, grew negative on the working day to trade down 0.28
percent at 95.751, after reaching 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. consumer 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 growing comprises up. Once 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 yens earlier in the session stimulated by the recent rise
in U.S. government bond yields, overruled course to fall 0.16
percent to 113.85 yen. The euro rose to a 14 -month high-pitched 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. yields, soft stock costs and a disappointing
report on domestic charge card spending mailed investors fleeing
kiwi resources .
Sterling fell to an eight-month low-toned against the euro after
the Bank of England Deputy Governor Ben Broadbent declined to
back up recent hints from other policymakers at the central bank
that suggested it may be moving toward elevating interest rates .
[ nL4N1K240R ]