Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Forex - Dollar Firms Up but Impeachment Worries Weigh

ForexSep 25, 2019 03:12AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. - The U.S. dollar steadied on Wednesday, but remained on the defensive following the launch of an impeachment inquiry into President Donald Trump, which added to downside risks in markets.

The U.S. House of Representatives will launch a formal impeachment inquiry over whether Trump sought help from the Ukraine to smear former Vice President Joe Biden, a front-runner for the 2020 Democratic presidential nomination. Trump has denied the claims.

It is unlikely that the impeachment inquiry would lead to Trump's removal from office, but the development has added fresh uncertainty into financial markets.

"If an impeachment enquiry looks like ending his re-election chances in 2020, he may throw caution to the wind and harden his attitude to a China trade deal, increasing the chances of a global recession next year," said Jeffrey Halley, Senior Market Analyst, Asia Pacific, OANDA.

On Tuesday, speaking in the UN, Trump struck a harsher note on trade saying he would not accept a "bad deal" in U.S.-China trade negotiations.

China's top diplomat Wang Yi quickly hit back, saying Beijing would not be threatened on trade or allow interference in its affairs, including Hong Kong, while having no intention to "play the Game of Thrones on the world stage".

The dollar rose 0.3% to 107.36 yen by 3:08 AM ET (7:08 GMT), having slipped to a two-week low of 106.96 the previous day.

The safe-haven Swiss franc edged back to 0.9862 franc per dollar from near three-week high of 0.9845 to the dollar on Tuesday.

The euro, which was battered by weak euro zone economic data earlier this week, inched down 0.1% to 1.0996, closing in on Monday's low of 1.0966.

The U.S. dollar index, which measures the U.S. currency against six major currencies, was up 0.2% at 98.15.

Also weighing on the dollar was data showing that U.S. consumer confidence fell by the most in nine months in September, a potentially worrying signal for consumer spending, which has been driving the economy.

Meanwhile, the British pound was weaker, down 0.1% to 1.2465 after having risen sharply on Tuesday immediately following the Supreme Court’s ruling that a five week suspension of parliament in the run-up to Brexit was unlawful.

The New Zealand dollar edged up to 0.6325 after the Reserve Bank of New Zealand kept interest rates on hold, as widely expected.

--Reuters contributed to this report

Forex - Dollar Firms Up but Impeachment Worries Weigh

Related Articles

Aussie slips, yen gains as risk sentiment sours
Aussie slips, yen gains as risk sentiment sours By Reuters - Oct 21, 2021

By Karen Brettell NEW YORK (Reuters) - Risk sensitive currencies including the Australian dollar slipped on Thursday and the safe-haven Japanese yen gained as concerns about...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email