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Dollar down in Asia on heightened US elections probe

8/4/2017, 9:45:46 AMMarket Analysis
Dollar down in Asia on heightened US elections probe

The dollar trended weaker in early Asia on Friday on a report of stepped up legal activity into allegations Russia colluded to interfere in the U.S. elections with regional data sets of note ahead.

Japan reports average cash earnings for June with a 0.6% gain seen on year.

Elsewhere, Australia retail sales for the second quarter are seen up 1.2% on quarter and at a 0.2% pace on month.

USD/JPY changed hands at 109.95, down 0.07%, while AUD/USD traded at 0.7958, up 0.11%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 92.70, down 0,05%.

Overnight, the dollar hit session lows against a basket of global currencies, on the back of a report that the special counsel overseeing the Russia investigation, has impaneled a grand jury in Washington, to investigate Russia interference in the 2016 elections, The Wall Street Journal reported Thursday.

Mr Mueller's move to empanel the grand jury is a sign that his probe is intensifying and could stretch "for months," according to the newspaper.

This latest development in the Russia saga is likely to add to recent political uncertainty in Washington after The Senate, earlier in July, rejected an amendment to roll back parts of Obamacare.