Forex - Dollar edges up after slipping on U.S. political concerns

The dollar edged higher against a basket of the other major currencies on Thursday, regaining ground after slipping in the previous session amid renewed concerns over U.S. political uncertainty.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.14% to 93.27 by 03:22 AM ET (07:22 GMT).

U.S. President Donald Trump threatened Tuesday to shut down the government to secure funding to build a wall along the U.S.-Mexican border. He also raised the prospect of pulling out of the North American Free Trade Agreement with Mexico and Canada.

The greenback has weakened recent sessions amid renewed investor concerns about the Trump administration's ability to deliver on its economic policy agenda.

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Dollar eases off 5-week lows vs. other majors

The dollar edged up and pulled away from a five-week low against the other major currencies on Monday, as markets digested the downbeat U.S. growth data released on Friday and eyed an upcoming report on U.S. manufacturing activity due later in the day.

USD/JPY added 0.15% to trade at 102.18, easing off Friday’s three-week trough of 101.94.

The dollar recovered from sharp losses posted after the Bank of Japan approved only moderate stimulus measures at Friday monetary policy meeting, disappointing markets which were hoping for much more aggressive easing.

While the BoJ eased its monetary policy further by increasing its purchases of exchange-traded funds, it opted not to cut interest rates deeper into negative territory or increase the monetary base, as analysts had widely expected.

EUR/USD was little changed at 1.1167.

The pound slipped lower, with GBP/USD down 0.32% at 1.3186, while USD/CHF slipped 0.12% to 0.9778.

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FOREX TIPS: Asian shares slip as Fed, Brexit loom

Asian stocks slipped on Tuesday ahead of the U.S. Federal Reserve's two-day meeting that begins later in the day, amid growing worries this month's referendum in Britain could see it exit the European Union.

The pound and euro have suffered in recent sessions as economists fear a so-called Brexit would tip Europe back into recession. Voters appear divided ahead of the June 23 referendum, with the "Out" campaign widening its lead over the "In" camp, according to two opinion polls published by ICM on Monday.

Financial spread betters predicted the gloom would spread to European trading. Britain's FTSE 100 was seen opening 0.3 percent lower, while both Germany's DAX and France's CAC 40 were expected to fall 0.8 percent.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4 percent, after Wall Street lost ground for the third straight session.

Japan's Nikkei stock index skidded 1 percent after tumbling 3.5 percent on Monday.

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Forex News- Pound touches day’s highs after UK data, gains checked

The pound touched the day’s highs against the dollar on Wednesday after data showing that U.K. industrial output rose at the fastest rate in nearly four years in April.

GBP/USD hit highs of 1.4579 immediately following the release of the data, before pulling back to 1.4531.

The Office for National Statistics said industrial production rose 2.0% in April after a 0.3% increase in March, the largest monthly increase since July 2012.

Manufacturing output rose 2.3% after a 0.1% increase in March, in what was also the fastest monthly increase since July 2012.

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The dollar was trading near one-month lows against a basket of major currencies on Tuesday after Federal Reserve Chair Janet Yellen struck a mixed tone on the outlook for the economy and prospects for higher interest rates.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.17% at 93.88, not far from Monday’s lows of 93.74, the weakest level since May 11.

Speaking Monday, Yellen indicated that the U.S. central bank won’t be raising interest rates until uncertainty over the economic outlook is resolved.

Yellen said she expects the economic recovery to continue but gave no indications on the timing of a next rate increase.

The remarks came after data on Friday showing that the U.S. economy added just 38,000 jobs last month, the smallest increase since September 2010.

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Forex signals: Dollar bulls bruised by payrolls blow, Yellen in focus

The dollar languished at more than three-week lows against a basket of major currencies on Monday after a strongly disappointing employment report prompted investors to rule out the chance of a hike in U.S. interest rates this month.

The dollar index (DXY) stood at 94.161, having been as low as 93.855 on Friday - a level last seen on May 12. It tumbled 1.6 percent on Friday, posting its second biggest one-day drop this year.

The yen also hit a three-year high of 120.83 per euro on Friday before stepping back to 121.50.

The euro held upper hand against the dollar, climbing to its highest in three weeks at $1.1375 on Friday though it has since drifted back to $1.1345.

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