Dollar down as Trump faces new controversy

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Hong Kong

The dollar sank Wednesday with a fresh crisis in the White House fuelling concerns that Donald Trump’s economy-boosting agenda could be run off-track.
The administration was once again rocked by allegations over its links to Russia after it emerged the tycoon had divulged classified information to the nation’s foreign minister.
That was followed late Tuesday by claims by recently fired FBI boss James Comey that Trump pressed him to drop a probe into ex-national security advisor Michael Flynn over his links to Moscow.
While the Oval Office has furiously denied any wrongdoing, there is a growing sense of crisis that could even lead to the president’s impeachment, throwing into doubt his plans for tax cuts, big spending and red tape slashing.
Bets that the plan would fire the economy helped fan a dollar and global equities rally in the months after Trump’s election.—AFP