Daily Morning Report 17.05.2017

The dollar was at six-month lows Wednesday as Donald Trump found himself embroiled in another political brouhaha.

The dollar index was off 0.31% at 97.80 at 03:00 ET, giving up all the gains posted in the wake of Trump’s election win in November.

The New York Times reported Trump allegedly asked former FBI chief James Comey to end a probe into sacked national security adviser Michael Flynn’s ties with Russia.

That could expose Trump to allegations of obstruction of justice which is an impeachable offense. The Trump administration denied the report.

Concerns lie in the extent to which the latest political scandal could disrupt Trump’s economic agenda.

The yen firmed to the 112 mark against the dollar on safe-haven buying.

The euro touched the $1.11 level for the first time since November.

The GBP was steady above $1.29 as campaigning for the U.K. general election gathered pace.