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Forex Signal Forex Strategies Forex Resources Forex Trading
* Dollar turns direction vs yen to sold lower
* Investors await Fed's Yellen congressional testimony
* U.S. consumer 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-pitched against a basket of major currencies on Tuesday ,
after U.S. President Donald Trump's eldest son released an email
chain citing Russian is supportive of 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 liberated
on Tuesday.[ nL1N1K209P ]
" At the least, these kinds of headlines play up
concerns about dysfunction in Washington and the impotence of
this administration to pass any meaningful legislation ,
particularly relevant to fiscal stimulus ," answered Omer Esiner ,
chief market analyst at Commonwealth FX in Washington .
U.S. Senate Republican leader Mitch McConnell said here 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 challengers, moved negative on the day to trade 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. customer inflation data related to 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 rise holds up. Formerly balance sheet reduction
is under way, she will assess inflation before deciding on
further interest rates rises, she replied.[ nL1N1K10X8 ]
The greenback, which touched a four-month high against the
Japanese yen earlier in the session stimulated by the recent rise
in U.S. government attachment harvests, 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 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 prices and a disappointing
report on domestic credit card spend sent 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 hints from other policymakers at the central bank
that suggested it may be moving toward conjuring interest rates .
[ nL4N1K240R ]