Forex – Dollar hovers at 6-month lows amid U.S. political worries-SapForex24

The dollar was hovering at six-month lows against other major currencies on Wednesday, as concerns over recent political developments in the U.S. continued to dampen demand for the greenback.

EUR/USD held steady at 1.1087, just off a six-month peak of 1.1122 hit overnight.

The greenback weakened broadly following reports U.S. President Donald Trump shared sensitive intelligence with Russia’s foreign minister in a meeting last week.

The U.S. dollar came under further selling pressure after news Trump asked former FBI Director James Comey to end the agency’s investigation into ties between former White House national security adviser Michael Flynn and Russia.

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Markets were still recovering from Trump’s decision last week to fire James Comey and amid congressional calls for an independent investigation of possible Russian interference with the U.S. election.

Elsewhere, GBP/USD edged up 0.18% to 1.2939 after the U.K. Office for National Statistics said the unemployment rate unexpectedly fell to 4.6% in March, its lowest level since 1975.

However, the claimant count increased by 19,400 in April, compared to expectations for a gain of 7,500 people.

Meanwhile, the average earnings index rose by 2.4% in the three months to March, in line with expectations. Excluding bonuses, wages increased by 2.1%.

USD/JPY dropped 0.59% to 112.44, while USD/CHF slipped 0.15% to 0.9843.

The Australian dollar was weaker, with AUD/USD down 0.43% at 0.7394, while NZD/USD held steady at 0.6883.

Meanwhile, USD/CAD edged 0.08% higher to 1.3619.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.15% at 97.94, the weakest level since November 9.

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