Trump failure on healthcare sends dollar to 10-month low

[Miles Archer]

Source: Reuters

LONDON (Reuters) - The U.S. dollar sank to a 10-month low against a basket of major currencies on Tuesday, hit by the latest collapse of President Donald Trump's efforts to deliver a new healthcare bill in a market deeply worried by the pace of U.S. growth.

The Australian dollar was by far the biggest beneficiary of another slide for the greenback, jumping 1.5 percent to more than two-year highs after minutes from the Reserve Bank's last policy meeting showed it turning more upbeat on the economy.

In four weeks dominated by expectations that by doubts over the Federal Reserve's ability to raise interest rates further, and signs that other major central banks are finally turning more hawkish, the dollar is now down more than 3 percent.

Since hitting a 14-year peak of 103.82 on Jan. 3, at 94.830 on Tuesday, the dollar index was down 8.8 percent.

Read more: http://www.reuters.com/article/uk-global-forex-idUSKBN1A302C

[Sunlei]

1. Australia/NZ are doing great, a huge boom for their asian pacific trade with USA out of the TPP

wish we could buy NZ butter without todays price markup.

[Zoonart]

2. Surprise...

Failure has consequences. Next up... failure to reach a debt ceiling decision. Watch your wallets, America. I have seen a couple of columns by economists that are predicting another recession.

[workinclasszero]

8. With republicans in total control of the government...

a bad recession is a given.

[Iliyah]

3. ?????

Ya would think with the failure of t-rumpdon'tcare bill the dollar value would go up unless they are basing it on this bullshit total repeal with no replace crapola.

[Berlin Expat]

6. Wall Street

was banking on this because it would've politically paved the way for tax cuts that the 1% were really looking forward to. If the GOP can't even do this, the odds of a tax cut passing the Congress fall dramatically.

[workinclasszero]

9. Right

And fuck wall street.

[Tanuki]

10. Indeed....it was a "healthcare" bill in name only, and was never anything

but a massive tax cut for the wealthiest at the expense of the sick, aging, and vulnerable.

[Renew Deal]

4. I'm not convinced they're related

[DetlefK]

5. How to spin that: "Trump lays groundwork for boosting US-exports!"

[bucolic_frolic]

7. This may be the straw that breaks the camel's back

because there is reason for the falling dollar. The U.S. of America is perceived
as weak around the world, we have no plans other than economic gain, we are
no longer projecting confidence in freedom or morality in foreign affairs. It's like
a legal code stripped of ethics and morality, and only focused on money.

A collapsing dollar can wreak havoc in forex markets, exchange rates, imports and
exports, relations with our largest trading partners. If you plan to buy foreign goods,
it might be a good time before prices go up.

[Achilleaze]

11. Trump* Slump

* aka Comrade Casino, the republican Draft-Dodger-in-Chief