Forex - Dollar higher but upside limited ahead of U.S. healthcare vote
Investing.com
Published Mar 24, 2017 03:28AM ET
Dollar gains ground vs. rivals, eases off 6-week trough
Investing.com - The dollar moved higher against other major currencies on Friday, but gains were expected to remain limited as uncertainty over whether U.S. President Donald Trump’s healthcare bill will be approved continued to weigh.
EUR/USD edged down 0.14% to 1.0768.
Sentiment on the dollar remained vulnerable after Trump warned House Republican lawmakers that he will leave Obamacare in place and move on to tax reform if they do not approve new healthcare legislation in a vote on Friday.
The healthcare vote is seen by investors as a test of his ability to implement key campaign promises such as tax reform and infrastructure spending.
Market participants were looking ahead to a string of manufacturing and service sector activity data from the euro zone, due later in the day as well as U.S. data on durable goods orders.
GBP/USD slid 0.32% to trade at 1.2480, off the previous session’s one-month peak of 1.2532.
The pound was boosted on Thursday by a stronger than expected rise in U.K. retail sales last month.
USD/JPY gained 0.34% to 111.31, off Thursday’s four-month trough of 110.63.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.15% at 99.71, off Wednesday’s six-week low of 99.34.
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Written By: Investing.com
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