US-dollar falls due to probe to Trump's business transactions

US-dollar falls due to probe to Trump's business transactions
Decline in dollar will strengthen US economy and increase imported inflation

Baku. 21 July. REPORT.AZ/ The US special counsel investigating possible ties between the Donald Trump campaign and Russia in last year’s election is examining a broad range of transactions involving Trump’s businesses as well as those of his associates, according to a person familiar with the probe.

Report informs citing the Bloomberg, FBI investigators and others are looking at Russian purchases of apartments in Trump buildings, Trump’s involvement in a controversial SoHo development in New York with Russian associates, the 2013 Miss Universe pageant in Moscow and Trump’s sale of a Florida mansion to a Russian oligarch in 2008, the person said.

Major U.S. stock indices, which had been trading higher in the morning, fell as traders worried that the probe could derail Trump’s growth agenda. The dollar fell against the euro and U.S. government bonds rose.

Notably, the exchange rate is currently at 1.1640 USD/EUR.

Analytical Group of Report informs, US Dollar rate lowered artificially and that it will have a positive impact on the US economy in terms of growth of exports and the rise in imported inflation: “The rate could rise up to 1.20 USD/EUR by year end, however, then due to the sharp rise in discount rate by Fed it is likely that the dollar will grow stronger and move towards the parity with euro. This can lead to the next global financial crisis and the sharp fall of raw material prices".

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