In the News

Dollar has worst week in over a year amid political uncertainty

(Reuters) The U.S. dollar fell on Friday, adding to its worst week since April 2016 against a basket of major currencies, and having surrendered the gains made since Donald Trump was elected U.S. president.

Uproar over Trump’s recent firing of FBI Director James Comey, who was overseeing an investigation into possible links between the president’s team and Russia, has pressured the dollar.

“The dollar overall, across the board, has been getting beat up this week and a lot of that has to do with the political risk here in DC,” said John Doyle, director of markets at Monex Inc in Washington. “While we saw a little bit of a reprieve yesterday, we’re right back on that dollar weakness train.”

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