Dollar sinks as politics take a toll
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US stocks sank on Friday and the euro climbed to its highest level against the dollar since January 2015 as investors assessed an investigation into US President Donald Trump that may stall his economic agenda. European shares fell as the common currency's rally weighed on carmakers and other exporters. Oil slumped after reports that Opec supply increased this month.
All major US equity gauges ended lower, with energy shares leading decliners in the S&P 500 Index. Industrials also struggled as General Electric Co dropped 3 per cent on the company's warning that its earnings for the year will likely be at near the bottom of its projected range. The Bloomberg Dollar Spot Index hit a 14-month low.
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