US dollar falls amid political uncertainty

US dollar falls amid political uncertainty

The US dollar decreased against most other major currencies on Tuesday as the country’s political uncertainty continued to weigh on the market.

Former Federal Bureau of Investigation (FBI) Director James Comey is slated to testify Thursday in a hearing on Capitol Hill, the first time since he was suddenly fired by US President Donald Trump, Xinhua reported.

Analysts said investors were in a cautious mood as they await for Comey’s appearance. He is expected to testify whether Trump asked him to shut down the FBI probe into former national security adviser Michael Flynn.

On the economic front, the number of job openings increased to a series high of 6.0 million on the last business day of April, reported the US Labour Department on Tuesday.

The dollar index, which measures the greenback against six major peers, decreased 0.18 per cent at 96.622 in late trading.

In late New York trading, the euro rose to $1.1269 from $1.1252 in the previous session, and the British pound lost to $1.2885 from $1.2908 in the previous session. The Australian dollar climbed to $0.7508 from 0.7489 dollar.

The US dollar bought 109.56 Japanese yen, lower than 110.49 yen of the previous session. The US dollar dipped to 0.9628 Swiss franc from 0.9652 Swiss franc, and it moved down to 1.3457 Canadian dollars from 1.3474 Canadian dollars.

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