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The dollar slipped to a four-week low against the yen on Friday, after a newspaper report that investigators probing possible Russian interference in the 2016 US election had subpoenaed President Donald Trump’s election campaign for documents.
Special Counsel Robert Mueller’s team issued the subpoena last month for documents containing specified Russian keywords from more than a dozen officials, according to the report in The Wall Street Journal .
The report overshadowed any support for the dollar from the approval of a tax-reform bill in the US House of Representatives on Thursday, which had been a key focus for markets. The greenback slipped more than half a percent to as low as 112.395 yen, its weakest since 19 October.
The bill - which would bring about the biggest US tax-code overhaul since the 1980s - will now move to the Senate, where a tax-writing panel finished debating and approved a bill late Thursday evening.
“Global markets haven’t batted an eyelid to the House Republicans passing their version of the Tax Cuts and Jobs Act through, not least because the spotlight has been stolen by (the Mueller) reports,” said ING currency strategist Viraj Patel, in London.
“It’s difficult to see anything but the dollar losing out in an environment where policy and political uncertainty remain elevated,” he said, adding that the true test for the tax bill would come in the Senate, where the Republicans have only a very thin lead.
Against a basket of six major currencies, the dollar was down 0.3 percent at 93.700.
The index had edged up overnight to pull away from a four-week trough of 93.402 set on Wednesday, with Wall Street shares higher after sagging through much of the week, causing a four basis points jump in the long-term Treasury yield to shore up the dollar.
“While the comeback in equities has stopped the recent decline in Treasury yields, focus remains on US tax reforms,” said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.
“Yields cannot rise much further when it is unclear whether tax reforms can go through this year. Dollar/yen can test the 114.00 handle but lacks momentum for a sustained surge under such conditions.”
Show all 17 1 /17The biggest names involved in the Trump-Russia investigation The biggest names involved in the Trump-Russia investigation Paul Manafort Mr Manafort is a Republican strategist and former Trump campaign manager. He resigned from that post over questions about his extensive lobbying overseas, including in Ukraine where he represented pro-Russian interests. Mr Manafort turned himself in at FBI headquarters to special counsel Robert Mueller’s team on Oct 30, 2017, after he was indicted under seal on charges that include conspiracy against the United States, conspiracy to launder money, unregistered agent of a foreign principal, false and misleading US Foreign Agents Registration Act statements, false statements, and seven counts of failure to file reports of foreign bank and financial accounts.
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The biggest names involved in the Trump-Russia investigation Rick Gates Mr Gates joined the Trump team in spring 2016, and served as a top aide until he left to work at the Republican National Committee after the departure of former Trump campaign manager Paul Manafort. Mr Gates' had previously worked on several presidential campaigns, on international political campaigns in Europe and Africa, and had 15 years of political or financial experience with multinational firms, according to his bio. Mr Gates was indicted alongside Mr Manafort by special counsel Robert Mueller's team on charges that include conspiracy against the United States, conspiracy to launder money, unregistered agent of a foreign principal, false and misleading US Foreign Agents Registration Act statements, false statements, and seven counts of failure to file reports of foreign bank and financial accounts.
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The biggest names involved in the Trump-Russia investigation George Papadopoulos George Papadopoulos was a former foreign policy adviser for the Trump campaign, having joined around March 2016. Mr Papadopoulos plead guilty to federal charges for lying to the FBI as a part of a cooperation agreement with Special Counsel Robert Mueller's investigation. Mr Papadopoulos claimed in an interview with the FBI that he had made contacts with Russian sources before joining the Trump campaign, but he actually began working with them after joining the team. Mr Papadopoulos allegedly took a meeting with a professor in London who reportedly told him that Russians had "dirt" on Hillary Clinton. The professor also allegedly introduced Mr Papadopoulos to a Russian who was said to have close ties to officials at the Russian Ministry of Foreign Affairs. Mr Papadopoulos also allegedly was in contact with a woman whom he incorrectly described in one email to others in the campaign as the "niece" to Russian President Vladimir Putin.
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The biggest names involved in the Trump-Russia investigation Donald Trump Jr The President's eldest son met with a Russian lawyer - Natalia Veselnitskaya - on 9 June 2016 at Trump Tower in New York. He said in an initial statement that the meeting was about Russia halting adoptions of its children by US citizens. Then, he said it was regarding the Magnitsky Act, a US law blacklisting Russian human rights abusers. In a final statement, Mr Trump Jr released a chain of emails that revealed he took the meeting in hopes of getting information Ms Veselnitskaya had about Hillary Clinton's alleged financial ties to Russia. He and the President called it standard "opposition research" in the course of campaigning and that no information came from the meeting. The meeting was set up by an intermediary, Rob Goldstone. Jared Kushner and Paul Manafort were also at the same meeting.
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The biggest names involved in the Trump-Russia investigation Jared Kushner Mr Kushner is President Donald Trump's son-in-law and a key adviser to the White House. He met with a Russian banker appointed by Russian President Vladimir Putin in December. Mr Kushner has said he did so in his role as an adviser to Mr Trump while the bank says he did so as a private developer. Mr Kushner has also volunteered to testify in the Senate about his role helping to arrange meetings between Trump advisers and Russian Ambassador to the US Sergey Kislyak.
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The biggest names involved in the Trump-Russia investigation Rob Goldstone Former tabloid journalist and now music publicist Rob Goldstone is a contact of the Trump family through the previously Trump-owned 2013 Miss Universe pageant, which took place in Moscow. In June 2016, he wrote to Donald Trump Jr offering a meeting with a Russian lawyer, Natalya Veselnitskaya, who had information about Hillary Clinton. Mr Goldstone was the intermediary for Russian pop star Emin Agalaraov and his father, real estate magnate Aras, who played a role in putting on the 2013 pageant. In an email chain released by Mr Trump Jr, Mr Goldstone seemed to indicate Russian government's support of Donald Trump's campaign.
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The biggest names involved in the Trump-Russia investigation Aras and Emin Agalarov Aras Agalarov (R) is a wealthy Moscow-based real estate magnate and son Emin (L) is a pop star. Both played a role in putting on the previously Trump-owned 2013 Miss Universe pageant in Moscow. They allegedly had information about Hillary Clinton and offered that information to the Trump campaign through a lawyer with whom they had worked with, Natalia Veselnitskaya, and music publicist Rob Goldstone.
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The biggest names involved in the Trump-Russia investigation Natalia Veselnitskaya Natalia Veselnitskaya is a Russian lawyer with ties to the Kremlin. She has worked on real estate issues and reportedly counted the FSB as a client in the past. She has ties to a Trump family connection, real estate magnate Aras Agalarov, who had helped set up the Trump-owned 2013 Miss Universe pageant which took place in Moscow. Ms Veselnitskaya met with Donald Trump Jr, Jared Kushner, and Paul Manafort in Trump Tower on 9 June 2016 but denies the allegation that she went there promising information on Hillary Clinton's alleged financial ties to Russia. She contends that the meeting was about the US adoptions of Russian children being stopped by Moscow as a reaction to the Magnitsky Act, a US law blacklisting Russian human rights abusers.
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The biggest names involved in the Trump-Russia investigation Mike Flynn Mr Flynn was named as Trump's national security adviser but was forced to resign from his post for inappropriate communication with Russian Ambassador to the US Sergey Kislyak. He had misrepresented a conversation he had with Mr Kislyak to Vice President Mike Pence, telling him wrongly that he had not discussed sanctions with the Russian.
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The biggest names involved in the Trump-Russia investigation Sergey Kislyak Mr Kislyak, the former longtime Russian ambassador to the US, is at the centre of the web said to connect President Donald Trump's campaign with Russia.
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The biggest names involved in the Trump-Russia investigation Roger Stone Mr Stone is a former Trump adviser who worked on the political campaigns of Richard Nixon, George HW Bush, and Ronald Reagan. Mr Stone claimed repeatedly in the final months of the campaign that he had backchannel communications with WikiLeaks founder Julian Assange and that he knew the group was going to dump damaging documents to the campaign of Democratic candidate Hillary Clinton - which did happen. Mr Stone also had contacts with the hacker Guccier 2.0 on Twitter, who claimed to have hacked the DNC and is linked to Russian intelligence services.
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The biggest names involved in the Trump-Russia investigation Jeff Sessions The US attorney general was forced to recuse himself from the Trump-Russia investigation after it was learned that he had lied about meeting with Russian Ambassador to the US Sergey Kislyak.
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The biggest names involved in the Trump-Russia investigation Carter Page Mr Page is a former advisor to the Trump campaign and has a background working as an investment banker at Merrill Lynch. Mr Page met with Russian Ambassador to the US Sergey Kislyak during the 2016 Republican National Convention in Cleveland. Mr Page had invested in oil companies connected to Russia and had admitted that US Russia sanctions had hurt his bottom line.
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The biggest names involved in the Trump-Russia investigation Jeffrey "JD" Gorden Mr Gordon met with Russian Ambassador to the US Sergey Kislyak during the 2016 Republian National Convention to discuss how the US and Russia could work together to combat Islamist extremism should then-Republican presidential candidate Donald Trump win the election. The meeting came days before a massive leak of DNC emails that has been connected to Russia.
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The biggest names involved in the Trump-Russia investigation James Comey Mr Comey was fired from his post as head of the FBI by President Donald Trump. The timing of Mr Comey's firing raised questions around whether or not the FBI's investigation into the Trump campaign may have played a role in the decision.
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The biggest names involved in the Trump-Russia investigation Preet Bharara Mr Bahara refused, alongside 46 other US district attorney's across the country, to resign once President Donald Trump took office after previous assurances from Mr Trump that he would keep his job. Mr Bahara had been heading up several investigations including one into one of President Donald Trump's favorite cable television channels Fox News. Several investigations would lead back to that district, too, including those into Mr Trump's campaign ties to Russia, and Mr Trump's assertion that Trump Tower was wiretapped on orders from his predecessor.
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The biggest names involved in the Trump-Russia investigation Sally Yates Ms Yates, a former Deputy Attorney General, was running the Justice Department while President Donald Trump's pick for attorney general awaited confirmation. Ms Yates was later fired by Mr Trump from her temporary post over her refusal to implement Mr Trump's first travel ban. She had also warned the White House about potential ties former National Security Adviser Michael Flynn to Russia after discovering those ties during the FBI's investigation into the Trump campaign's connections to Russia.
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The euro rose 0.2 percent to $1.1794.
Bitcoin hit another all-time high just shy of $8,000, with analysts saying a software upgrade that had been suspended but might now take place later on Friday was behind the move higher.
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