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Greenback Slides to 6-Month Low as Geopolitics Weigh

Posted May 16, 2017

Under Economic Issues, International Trade Issues


(Anora Mahmudova & Sara Sjolin – MarketWatch)

The dollar slumped against its major currency rivals Tuesday, after reports President Donald Trump shared classified information with top Russian officials at a meeting last week.

The ICE Dollar Index DXY, -0.67%  fell 0.6% to 98.3430, trading around its lowest level since Nov. 9, just a day after Trump won the U.S. presidential election.

Market reaction to a pair of mixed economic reports releases was largely muted.

The pace of home construction eased in April as builders took a breather after a strong start to the year. Meanwhile, industrial production in April grew at the fastest monthly rate in more than three years, on the back of broad-based gains in the manufacturing sector.

Analysts said recent weakness in the dollar was partially in response to disappointing economic data. Click here to read more.

Related: US Dollar Slips Amid Trump Concern as Euro Rallies (Bloomberg)