“We have a holding pattern ahead of the healthcare vote tonight,” said Richard Cochinos, European head of G10 currency strategy at Citi in London.
The 1.4 percent monthly rise in UK retail sales in February eased some of the concerns around softening consumer spending that have afflicted sterling in the past month.
After losing 3.5 percent in the past 10 days, the dollar was roughly steady at 111.05 yen.
“It is a critical vote for how the macro community views the outlook.
It puts everything in question and we may well see the dollar below 110 yen.”
Dollar holds onto modest gains, U.S. healthcare bill on tap By Investing.com
The U.S. Commerce Department said rose by 6.1% to 592,000 units in February from January’s revised reading of 558,000.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.18% at 99.63, still close to the previous session’s six-week low of 99.34.
held steady at 111.21, still close to a four-month low of 110.73 hit on Wednesday, while edged up 0.17% to 0.9930.
Meanwhile, market participants were concerned about Trump’s ability to gather enough support for his healthcare bill – set to replace Obamacare and one of his key campaign pledges.
slipped 0.18% to 1.0777, pulling away from Wednesday’s six-week high of 1.0825.
The healthcare vote is seen by investors as a test of his ability to implement key campaign promises such as tax reform and infrastructure spending.
Dollar loses some ground as markets brace for healthcare voteInvesting.com – The dollar edged lower against other major currencies on Friday, after the release of tepid U.S. durable goods orders data and as investors remained cautious ahead of a highly-anticipated scheduled later in the day.
The U.S. Commerce Department said increased by 1.7% last month, compared to’ expectations for a gain of 1.2%.
But sentiment on the dollar remained vulnerable after Trump warned House Republican lawmakers that he will leave Obamacare in place and move on to tax reform if they do not approve new healthcare legislation in a vote on Friday.
The Australian and New Zealand dollars were steady, with down 0.05% at 0.7623 and with up only 0.03% at 0.7032.
collected by :kiven Dixter