The USD fell on the European market on Friday against a basket of global currencies, reversing most of its gains the day before, as investors shrugged off risk to the markets as political tensions within the Republican Party escalated between US President Donald Trump and leading party leaders, Some advisory councils.
The dollar index fell by 93.63 points from 93.63 points to 93.63 points, recording a high of 93.67 points and a low of 93.23 points.
The index ended yesterday’s trading up 0.3 %, the third gain in four days, after data showed a drop in weekly jobless claims in the United States last week to a six month low, in a new positive sign confirming the strength of the US labor market.
The political tensions inside the Republican Party between Donald Trump and the party’s top leaders have been exacerbated, especially after Trump dismissed two consultative councils led by senior party members.
Some speculation was that former Goldman Sachs chairman Gary Cohen had resigned as chairman of the National Economic Council, in the latest angry responses within the Republican Party to Trump’s decisions. Cohen was leading the president’s tax reform efforts in the country, raising concerns about Trump’s ability to apply His huge economic program announced by Ian election campaign.
The US economy is expected to release a preliminary reading of the August University of Michigan Consumer Confidence Index, which is expected to reach 94.0 points and a final reading of 93.4 points for July