Forex - Dollar slips on political tensions; Barcelona attack in focus

© Reuters. Dollar moves lower as U.S. political woes persist

Investing.com - The dollar slipped lower against other major currencies on Friday, as ongoing U.S. political tensions and doubts over an additional rate hike by the Federal Reserve this year continued to weigh, while a terror attack in Barcelona also dominated investors’ attention.

Sentiment on the greenback was vulnerable after eight chief executives quit two business advisory councils on Wednesday, in protest over U.S. President Donald Trump’s controversial remarks on weekend violence in Virginia.

The U.S. President reacted to the departures by – the American Manufacturing Council and the Strategic and Policy Forum.

White House Economic Adviser Gary Cohn late Thursday. However, growing opposition to Trump’s positions, including from within his own party, have fueled concerns over the administration’s ability to implement its political agenda.

The dollar also remained under pressure after the minutes of the Fed’s July policy meeting released on Wednesday over the need to raise interest rates further this year, citing low inflation.

The safe-haven yen was higher, with down 0.23% at 109.33, after in a crowded tourist area of Barcelona on Thursday evening, killing at least 13 people and injuring 100 others.

The Islamic State claimed responsibility for the incident. Spanish police said that two men had been arrested so far.

was little changed at 1.1731, off the previous session’s three-week low of 1.1662.

Investors remained cautious after indicated concerns over the strength of the single currency.

Meanwhile, edged up 0.17% to trade at 1.2890.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.11% at 93.54.

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