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  • 05.10.17

Dollar drops against euro in ripple effect of Trump firing FBI’s James Comey

The U.S. dollar traded lower against some rivals on Wednesday, which some analysts attributed in part to FBI director James Comey‘s sudden departure, as MarketWatch reported. The dollar was down against both the euro and the pound sterling. Perhaps Donald Trump’s as yet-to-be-named replacement FBI director will calm the market’s concerns.

Trump fired Comey on Tuesday night over charges that he fumbled a probe into Hillary Clinton’s private email server, ostensibly tanking her presidential campaign and possibly violating the Hatch Act. There’s also that whole thing about Comey spearheading an investigation into Russian interference in the presidential election, but President Trump has assured the nation that charges of collusion are “a total hoax.” While the political ramifications of Comey’s abrupt firing are still developing, the economic ones may be making themselves known. ML