The U.S. dollar was depreciated by its major peers on Tuesday following the news that Donald Trump Jr. issued an email chain that incited information regarding the support of Russia for his father before the presidential election last 2016.
The index which tracks the value of the greenback relative to its major opposing currencies, the U.S. dollar index, struggled to finish on a positive note on Tuesday as it edged down about 0.28 percent at 95.75. The index trade to its lowest since July 3 at 95.651.
On the previous session, the dollar notched its four-month high versus the Japanese yen driven by the recent advance of bond yields in the U.S. government. The euro rose almost to its one-month high of $1.1475 before slightly falling by 0.3 percent to $1.1462. Meanwhile the Canadian dollar surpassed the greenback as traders anticipate Bank of Canada’s verdict on rate hikes. However the rising yields in the stateside pulled the dollar higher versus the New Zealand dollar.
On other news, President Donald Trump’s eldest son Donald Trump Jr. released an email chain on Tuesday suggesting that he was told that prosecutor from Russia was proposing his father campaign implicating information regarding rival Hilary Clinton being affiliated on the Russian government support.
Commonwealth FX’s chief market analyst Omer Esiner said that this kind of news are playing up worries on Washington’s dysfunction and the administration’s lack of power to pass any meaningful legislation, anything related to fiscal stimulus in particular.