US dollar extends fall after housing disappointment

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By Adam Samson

The US dollar fell further into the red on Tuesday, with optimism over higher American growth and inflation continuing to fade following a round of disappointing housing data.

The dollar index, a measure of the buck against half-a-dozen major currencies, was recently off by 0.56 per cent, and trading at its weakest level since the days immediately following the election of Donald Trump.

Investors have taken a drearier view on the so-called ‘Trump trade’, with the businessman-turned-politician lodged in deep political controversies that are expected to challenge his ability to pass a pro-growth agenda in the near-term. Mixed economic data have also painted a muddy picture of the US economy, just as the eurozone and other big developed markets are beginning to look brighter.

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