Forex — Dollar Hovers near 1-week low against Yen





© Reuters. Dollar hovers near 1-week low against yen

Investing.com — The dollar hovered near a one-week low against the yen on Tuesday, as investors remained cautious after the investigators probing the Russian interference in the US election debited from President Donald Trump is the former campaigns manager.

USD/JPY was at 113.07 04:39 PM ET (AT 08:39 CET) after falling as low as 112.96 overnight

The dollar came under pressure after the former trump-campaign-manager Paul Manafort was charged with money laundering by Federal investigators.

Special Counsel Robert Müller was also used to investigate whether Trump obstructed justice in his dismissal of FBI Director James Comey.

Investors fear that the fees may, exceptionally, trump, the attention of its legislative agenda, tax reforms.

Investors were looking to the Federal Reserve’s increases in the most recent monetary policy statement on Wednesday for fresh evidence on the path of the interest rate, in this year, and on Friday, the U.S. employment report for October.

Trump is also expected to name his choice for the next chief of the U.S. Central Bank on Thursday. Recent reports have indicated, to designate that Trump is likely to be, Fed Governor Jerome Powell, who is regarded as more peaceful than other candidates.

The yen showed little reaction after the Bank of Japan kept monetary policy on hold on Tuesday in a widely expected decision.

The euro is a touch lower, with GBP/USD at 1.1643, before reports on euro-zone third quarter growth as well as unemployment and inflation later in the trading day.

Economists expect growth in the Eurozone slowed down slightly, by 0.5%, compared with 0.6% in the second quarter.

Sterling was steady, with GBP/USD at 1.3213 after a rise of 0.6% on Monday on expectations that the Bank of England interest rates for the first time in almost a decade on Thursday.

The Australian dollar was slightly lower, with AUD/USD slips to 0.7678 after data overnight showing that Chinese factory growth slowed more than expected in October. China is Australia’s largest trading partner.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 94.41.



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