The U.S. dollar on Thursday weakened against the Japanese yen and the pound amid heightened uncertainty about the future of the health-care legislation.
U.S. legislators in the House are scheduled to vote on repealing and replacing the Affordable Care Act, known as Obamacare, later today, but may decide to postpone the vote if not enough Republicans support the bill. Investors are also focusing on Federal Reserve Chairwoman Janet Yellen’s speech, hoping for any clues about the future of the rate increases.
The ICE Dollar Index DXY, +0.04% was marginally higher at 99.70, near its lowest level in seven weeks.
Against the yen, the greenback fell to the lowest level in more than four months, trading at ¥110.69, down 0.5% from ¥111.17 late Wednesday in New York.
via MarketWatch
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Latest posts by Alfonso Esparza (see all)
- Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020 - 27 December 2019
- Market Awaits China Retaliation on Trade - 29 November 2019
- Alibaba to Close Order Book Ahead of Huge IPO - 18 November 2019