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Singapore - The dollar fell for a fifth day as Donald Trump’s top foreign policy advisers tried to control the political damage following a report the US president revealed classified information to Russia’s diplomat last week.
Treasury yields declined on risk aversion, sending the greenback down against all Group-of-10 peers.
Traders said leveraged funds’ initial reaction to the Washington Post report was to sell the dollar against the yen. The latest development comes as Trump fends off questions over his decision to sack FBI Director James Comey amid an investigation of possible Russian interference with the US election.
“The issue with Comey is likely to drag on while the latest disclosure issue with Russia, if it develops into a bigger problem, will raise concerns about the US administration and definitely be dollar-selling factor,” said Jun Kato, a senior fund manager at Shinkin Asset Management in Tokyo.
“Markets may now be gradually reducing dollar long exposures.”
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