U.S. housing data, political turmoil hit dollar; global stocks flat
(Worthy News) – The U.S. dollar index touched its lowest level since early November on Tuesday, hurt by weaker-than-expected U.S. housing data and as political turmoil in Washington raised anew concerns about the outlook for passing expected legislation.
A rally in the euro was reinforced by dollar losses, prompted by reports that U.S. President Donald Trump disclosed highly sensitive intelligence information to senior Russian officials at a meeting last week.
The disclosure adds to concern over the administration’s chances of passing legislation, including tax reform, that has been priced in partly by financial markets. Major U.S. stock indexes remain at or near record highs, supported by the strongest earnings season for S&P 500 components since 2011.
The dollar fell even after U.S. manufacturing production recording its largest increase in more than three years. [ Source ]
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