The dollar was also well down against the yen and pound. The unit has struggled as Trump’s travails — from a probe into his election campaign’s links to Russia and failure to push through crucial health care reforms — dampen expectations he will be able to pass his much-vaunted economic agenda.
“Factoring in the expanding US political sinkhole, which is weighing on broader (dollar) sentiment, it’s unlikely the market has run out of steam,” Stephen Innes, head of Asia-Pacific trading at OANDA, said in a note.
Traders will be keeping an eye on the Fed’s latest policy meeting, which ends on Wednesday, hoping for some guidance on its plans for raising interest rates. Expectations for further hikes have been tempered in recent weeks as inflation remains tepid and Trump’s woes build up.
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