Dollar falls, Sean Spicer steps down
The U.S. dollar hit its lowest level in more than a year against a basket of major rivals on Friday a day after the European Central Bank's chief abstained from talking down the euro, while obstacles to U.S. President Donald Trump's policy agenda also weighed.
Compounding the (weaker dollar) move is this latest news on the political front in the U.S. about the Russia investigation expanding to Trump’s business affairs.
In addition to traders' expectations that the ECB was staying the course toward tightening monetary policy, investigations into alleged Russian meddling in the U.S. election and possible collusion with Trump's campaign were viewed as obstacles to the administration's pro-growth agenda and negative for the dollar.
Sean Spicer steps down as White House press secretary
nytimes.com/2017/07/21/us/politics/sean-spicer-resigns-as-white-house-press-secretary.html
Sean Spicer on Friday resigned as White House press secretary as President Donald Trump overhauls his communications and legal team in the face of an escalating justice department investigation that is increasingly consuming his presidency.
The shake-up comes as Mr Trump faces the developing Russian investigation led by Robert Mueller. His son Donald Trump Jr and son-in-law Jared Kushner, now a White House adviser, are due to testify before a parallel congressional investigation next week.
Republicans are also frustrated that his handling of the crisis is impeding his ability to focus on legislative issues such as tax reform and infrastructure. The Trump administration has failed to pass a single major piece of legislation — including a recently failed effort to reform healthcare — in the six months since his inauguration.
Compounding the (weaker dollar) move is this latest news on the political front in the U.S. about the Russia investigation expanding to Trump’s business affairs.
In addition to traders' expectations that the ECB was staying the course toward tightening monetary policy, investigations into alleged Russian meddling in the U.S. election and possible collusion with Trump's campaign were viewed as obstacles to the administration's pro-growth agenda and negative for the dollar.
Sean Spicer steps down as White House press secretary
nytimes.com/2017/07/21/us/politics/sean-spicer-resigns-as-white-house-press-secretary.html
Sean Spicer on Friday resigned as White House press secretary as President Donald Trump overhauls his communications and legal team in the face of an escalating justice department investigation that is increasingly consuming his presidency.
The shake-up comes as Mr Trump faces the developing Russian investigation led by Robert Mueller. His son Donald Trump Jr and son-in-law Jared Kushner, now a White House adviser, are due to testify before a parallel congressional investigation next week.
Republicans are also frustrated that his handling of the crisis is impeding his ability to focus on legislative issues such as tax reform and infrastructure. The Trump administration has failed to pass a single major piece of legislation — including a recently failed effort to reform healthcare — in the six months since his inauguration.
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