Forex – Dollar Remains Broadly Lower Vs. Other Majors


© Reuters. Dollar still on the downside amid Trump policy jitters

Investing.com – The U.S. dollar remained broadly lower against other major currencies on Wednesday, as the end of the U.S. government shutdown failed to give much momentum to the greenback and as concerns over protectionist policies pursued by President Donald Trump weighed heavily.

Investors remained cautious after White House officials said President Trump was planning on using his speech to the World Economic Forum in Davos on Friday .

Such policies include a potential withdrawal from the North American free-trade agreement and disavowing the global climate change accord.

The dollar only briefly rebounded after Congress on Monday to fund the government for around three weeks and President Donald Trump signed the bill, ending the three-day government shutdown.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.59% at a fresh three-year low of 89.35 by 08:05 a.m. ET (12:05 GMT).

The euro has been strongly supported this year boosted by growing optimism the European Central Bank will signal a quicker exit than expected from its stimulus program.

was up 0.43% at a fresh three-yar peak of 1.2351.

The pound was also stronger, with up 1.15% at a fresh 19-month high of 1.4164 after showed that the UK unemployment rate held at a 42-year low in November, in line with expectations, while wage inflation excluding bonuses unexpectedly increased.

On a less positive note, data also showed that the UK claimant count increased by 8,600 in December, disappointing expectations for a gain of 5,400 people.

Sterling has been strongly supported in recent sessions by growing optimism around chances the UK could secure a favorable Brexit deal.

The yen and the Swiss franc were stronger, with declining 0.81% to 109.44 and with retreating 0.76% to 0.9503.

Elsewhere, the Australian and New Zealand dollars were also higher, with up 0.92% at 0.8074 and with gaining 0.73% to 0.7411.

Meanwhile, dropped 0.72% to trade at 1.2330.

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