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USD index declined against the basket of six major currencies reaching the lowest price since 7 months at 96.49. The former FBI director’s testimony to a senate committee on Thursday, which arise the worries of investors over the administration of Donald trump, where any revelations that may emerge when Comey testifies about Russia’s alleged involvement in the U.S. election may damage Trump admiration. Moreover, due to these reasons USD dropped against the safe haven yen at 109.28 reaching the lowest price since one month and a half.
GBP rose against USD at 1.2937. The pollsters expect that the most seats in the election will be for the British Prime Minister Theresa May, a narrow win could throw Britain into political deadlock just days before formal Brexit talks with the European Union are due to begin on June 19. However, the ECB is expected to strike a less dovish tone at the meeting on Thursday as the report showed that the economic recovery in the Eurozone is deepening. EUR declined against USD at 1.1246.
USD remained unchanged against its Canadian counterpart at 1.3469 as investors are keeping an eye on the financial system review by the bank of Canada on Thursday. Moreover, oil prices is still falling as most of Arab States cut their political relations with Qatar.
In Australia, the annual GDP rose by 1.5% while the quarterly GDP rose by 0.2%, this led the AUD to rise against its U.S counterpart to be traded at 0.7515.
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