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The dollar fell against a basket of currencies Tuesday as a growing number of Democratic lawmakers called for impeachment questioning of US President Trump and weak consumer confidence data heightened fears of a prolonged trade war between China and the United States.
Trump confirmed Tuesday that he temporarily froze nearly $400 million in U.S. aid to Ukraine. But denying that he did so was to pressure the Ukrainian president to launch an investigation that would be detrimental to Biden, the political opponent of the Democratic Party of the United States.
In Washington, House Speaker Pelosi is meeting with Democratic lawmakers to consider impeaching Trump. Since taking office in 2017, Trump has withstood many scandals. Pelosi is scheduled to make a public statement at 2100 GMT.
According to the Washington Post, Pelosi will announce that the House of Representatives will launch a formal inquiry into the impeachment of Trump.
Boris Schlossberg, managing director of foreign exchange strategy at BK Asset Management in New York, said, "The dollar is under tremendous pressure because political risks really seem to be beginning to penetrate back into the market."
The dollar index, which measures the dollar against six major currencies, fell 0.28%.
Boris Schlossberg said: "The actual actions, procedures and potential evidence of impeachment are highly risk-sensitive."
He said investors were investing in the safe-haven assets of the yen and the Swiss franc as they waited for more information to be released.
The dollar fell 0.48% against the yen. The dollar fell 0.45% against the Swiss franc.
The dollar weakened in early New York trading and the euro was supported by data showing German business confidence rose for the first time in six months in September.
Data showed that consumer confidence in the United States fell in September, triggering concerns about the strength of the U.S. economy, and the dollar suffered another setback.


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