The greenback has been on track to record its worst week against a basket of major currencies since July. Trump’s political future has led to unease in the markets and strained the greenback, while a resurgent euro has gained more than 2 percent – its best performance since June. Analysts say the falling dollar is unlikely to prevent the Federal Reserve from hiking interest rates next month. US stocks had dropped rapidly earlier this week as Trump’s pro-economy stance was in doubt with eight of the 11 major S&P 500 sectors suffering losses. “Everything has turned upside down – European political risks have faded, the economy is looking strong, while in the US everybody is worried,” revealed DZ Bank strategist Daniel Lenz.

Source: Daily News Egypt May 19, 2017 13:52 UTC