Dollar knocked back after 11 days of gains

Congress News Headlines - Yahoo! News

Dollar knocked back after 11 days of gains

The dollar index was down 0.4 percent in early European trade, falling to 100.81 from a peak of 101.76 on Wednesday after the better-than-expected U.S. inflation numbers and retail sales data. Yellen hinted on Tuesday that more rate hikes were on the way as the jobs market has improved and inflation has shown signs of nearing the Fed's two percent goal. Meanwhile, New York Fed President William Dudley on Wednesday reinforced the central bank's cautious optimism that President Donald Trump and the Republican-controlled Congress would not derail plans for gradual rate hikes in the months and years ahead.

more info...

U.S. lawmakers want say on any Trump Russia sanctions move

By Patricia Zengerle WASHINGTON (Reuters) - Republican and Democratic members of the U.S. House of Representatives called on Wednesday for the right to review any effort by President Donald Trump to ease sanctions on Russia, as a growing number of lawmakers worried over past contacts between his aides and Moscow. Three Republican and four Democratic members of the House introduced the "Russian Sanctions Review Act," a companion bill to a measure introduced in the Senate by a separate group of Republicans and Democrats last week. Prospects for both bills are uncertain for now, although that could change if the Trump administration were to move to ease sanctions imposed on Moscow.

more info...

U.S. senator: Launch probe if inappropriate Trump campaign, Russia contacts

Congress should launch a bipartisan investigation if there were any inappropriate contacts between President Donald Trump's campaign and Russian officials, fellow Republican U.S. Senator Lindsey Graham told Fox News on Wednesday. "If there were contacts between Russian officials and Trump campaign operatives that was inappropriate, then it would be time for the Congress to form a joint select commission to get to the bottom of all things Russia and Trump," Graham said.

more info...