Greenback slumps in Asia on policy concerns

Greenback slumps in Asia on policy concerns

On Wednesday, the evergreen buck inched down in Asia and the Japanese yen soared on safe-haven demand because President Donald Trump dared to sack FBI Director James Comeyover, reportedly unable to handle sensitive investigations. It lifted worries of a fallout for Trump’s economic policy objectives as well as ability to draw on public support.

The currency pair USD/JPY declined 0.16%, hitting 113.82, while AUD/USD hit 0.7356, soaring 0.19% after on Tuesday the Australian budget levied a tax on financial institutions to assist the government in meeting projected fiscal surplus objectives and securing its triple-A sovereign credit rating.

Tracking the US dollar’s value versus six major currencies, the US dollar index tumbled 0.15%, being worth 99.30.

Overnight, the evergreen buck traded higher versus a basket of crucial currencies, buoyed by a surge in hopes that the US major financial institution intends to have its benchmark rate lifted in June.

 

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