Market Research

Dollar Steadied After Hitting Six-Month Lows

18-May-2017 @ 02:05 PM


The dollar steadied Thursday after hitting six-month lows on the latest bout of political turmoil in the White House.
The dollar index was up 0.26% at 97.59 at 03:00 ET.
The U.S. Justice Department has named a special counsel to probe alleged Russian interference in the U.S. presidential election.
Trump allegedly asked the FBI to drop a probe into former national security adviser Michael Flynn's ties with Russia.
That left Trump open to allegations of obstructing justice, an impeachable offense.
The latest political maelstrom has thrown into doubt the administration's ability to deliver on its economic agenda.
The market odds of a June Fed rate hike have fallen to 60% as U.S. political risk is factored in.
The dollar recovered the 111 yen handle after falling below that level
Japan's GDP grew an annualized 2.2% in the first quarter but deflationary pressures persist in the economy.
The dollar also steadied against the euro but the single currency held above the $1.11 level.
The pound also fell against the greenback but remained above the $1.29 mark.
The Aussie firmed against the dollar after a surprise jump in Australian job creation in April


RISK WARNING : Trading in Forex and Contracts for Difference (CFDs), which are leveraged products, is highly speculative and involves substantial risk of loss. It is possible to lose more than the initial capital invested. Therefore, Forex and CFDs may not be suitable for all investors. Only invest with money you can afford to lose. So please ensure that you fully understand the risks involved. Seek independent advice if necessary. Full Disclosure

LEGAL : GICM is The Trading Name For GLOBAL INTEGRATED CAPTECH MARKETS LTD, we are one of the rapidly growing Online Forex & CFD’s Brokerage Service with a management of Over 20 Years Experience in the Industry. GIC Markets is Registered in ST Vincent’s and Grenadines with The Number 22818 IBC .