The US dollar index, which measures the currency against the euro, sterling and four other major peers, edged slightly lower to 105.26 in early Asian trading hours, continuing its retreat from Friday’s 1 ½-month high of 105.80. — Reuters picTOKYO, June 18 — The dollar drifted lower today, extending the previous day’s losses against the euro and sterling, as market jitters over the risks of a far-right French government receded.
The index’s rally was mostly driven by a sharp euro selloff, after French President Emmanuel Macron called a shock snap election last week in response to his ruling centrist party’s trouncing by Marine Le Pen’s eurosceptic National Rally in the European Parliament elections. Philadelphia Fed President Patrick Harker revealed yesterday that he is in the single-cut camp, but left the door open to changing his view depending on incoming data.