Dollar on back foot after U.S. healthcare vote postponed

Live Quote: On

RSS

My Page | Contact Us

RSS

RSS

Company A-Z | Stock Screener | My Portfolios | Streaming Quotes | Technical Analysis

Investing Tools

Useful Links

Sunday, May 5, 2024 12:26:57 PM - Markets open

VN-INDEX

1,221.03

+4.67/+0.38%

HNX-INDEX

228.22

+0.73/+0.32%

UPCOM-INDEX

89.78

+0.08/+0.09%

Dollar on back foot after U.S. healthcare vote postponed

Người đồng hành - 3/24/2017 9:08:01 AM

(0 ratings. You must sign in to rate.)

Print |

Add To Favorites |

Email |

RSS

The dollar was on the back foot early Friday when voting on the Trump administration's landmark healthcare bill was postponed, casting doubt on President Trump's ability to close political deals.

Trump failed on Thursday to reach a deal with Republican lawmakers on how to dismantle Obamacare, forcing a delay in voting on the healthcare bill.

The vote on the bill, which was expected to be a early legislative win for Trump, was seen by investors across a spectrum of asset classes as a litmus test for his ability to work with Congress and push through key policies such as tax reform and infrastructure spending.

"There really isn't much for the market to do but wait for the bill vote now that it has been postponed. There is very little incentive to push the dollar in either direction until then," said Ayako Sera, senior market economist at Sumitomo Mitsui Trust.

"Even if the bill happens to be passed, any bounce by the dollar is likely to be limited. There are plenty of other issues Trump has to contend with going forward, such as tax reforms."

The U.S. currency was little changed at 110.980 yen, within reach of a four-month low of 110.620 plumbed overnight. For the week the dollar was set to lose 1.5 percent against its Japanese peer.

The greenback was buffeted this week as investor expectations that Trump would be able to push through pro-growth measures were overturned by the president's uphill struggle to fulfil his campaign promise to "repeal and replace" Obamacare, hurting equities but benefiting the safe-haven yen.

The dollar index against a basket of major currencies was on track to lose 0.5 percent this week, during which it stooped to a seven-week low.

The euro was steady at $1.0783. The common currency, which advanced to a seven-week peak of $1.0825 on Wednesday, was headed for a 0.4 percent weekly gain.

The pound was effectively flat at $1.2518, not far from a one-month high of $1.2532 reached overnight on upbeat British retail sales data.

The Australian dollar was up 0.1 percent at $0.7632 and the New Zealand dollar was flat at $0.7029.

Newer News
09/12	Measures needed to help SMEs tap ASEAN market: seminar
24/08	Upstream oil businesses profit from higher rents and limited supplies
06/03	Taxing second homes must be studied carefully: experts
21/09	Central banks set to hit peak rates at faster pace
23/03	Policymakers fear high inflation and unemployment
17/03	Current global inflation a worrisome situation
26/01	ASEAN+3 economic prospects positive in 2022
30/12	Cryptocurrency continues to be attractive investment channel next year
13/08	Biden, Harris vow to 'rebuild' America post-Trump
05/01	Game-changing strategy for smart manufacturers

Older News
23/03	Oil bounces off November lows, but bloated US stockpiles pressure market
23/03	Dollar limps up from 4-month low vs yen, Trump's healthcare bill in focus
23/03	Slide in U.S. infrastructure stocks sign of 'Trump trade' weakness
23/03	Asia stocks advance, dollar, oil recover from multi-month lows
21/03	Asian shares near 15-month high, dollar soft on less hawkish Fed
21/03	Dollar slumps after Fed Evans reinforces rate outlook
21/03	Oil prices rise on talk that OPEC could extend supply cut
17/03	Dollar poised for weekly losses after Fed disappoints bulls
17/03	Oil prices edge up as drop in U.S. crude stocks eases glut worries
17/03	Asia stocks set to end week higher, dollar slides after Fed

Newsletter Signup