GLOBAL MARKETS-Dollar slides on Trump concern, but stocks rise

Fri May 19, 2017 9:12pm GMT
 

* Dollar posts biggest weekly fall since Feb 2015

* Best week of 2017 for Brent; WTI up 5 pct

* Stocks rally on Wall St but end down for the week (Updates to U.S. market close)

By Rodrigo Campos

NEW YORK, May 19 (Reuters) - The U.S. dollar fell on Friday and was set to close its worst week in more than a year, with losses steepening after reports an investigation into possible collusion between Russia and Donald Trump's presidential campaign now include a person close to the President.

Stocks pared gains on Wall Street and Treasury yields hit session lows after the report from the Washington Post. Separately, the New York Times reported more details on Trump's recent meeting with Russian diplomats in the Oval Office.

A senior White House adviser is a significant person of interest in the investigation of possible ties between Donald Trump's presidential campaign and Russia, the Post reported citing people familiar with the matter.

It was the most eventful week of the year so far for financial markets, with many major equity markets scaling record highs and then plunging mid-week in one of the sharpest cross-asset routs in years.

Triggering the move was uproar over Trump's firing of FBI director James Comey and allegations he pressed Comey to stop investigating his former national security chief's alleged ties with Russia.   Continued...

  • Africa
  • US
  • Europe
  • Asia
UK £ USD =1.2617
Euro USD =1.1124
Rand USD =0.0764