• The dollar nudged up from four-month lows against the yen early on Thursday, although U.S. President Donald Trump's struggle to push through a healthcare bill could weigh on any recovery in the greenback.
The U.S. currency has struggled this week as growing doubts over Trump's ability to push through with economic policies triggered broad risk aversion and buffeted equities. U.S. Treasury yields declined in turn, eroding the dollar's interest allure.
The dollar was up 0.2 percent at 111.345 yen, enjoying a bit of respite after sliding to a four-month low of 110.735 on Wednesday, when it fell for the seventh straight session.
The euro inched down 0.1 percent to $1.0789 after advancing to a seven-week high of $1.0825 overnight.
The dollar index against a basket of major currencies was up 0.1 percent to 99.791 after its descent to a seven-week trough of 99.457 the previous day.
• U.S. home resales fell more than expected in February amid a persistent shortage of houses on the market that is pushing up prices and sidelining potential buyers.
The National Association of Realtors said on Wednesday existing home sales declined 3.7 percent to a seasonally adjusted annual rate of 5.48 million units last month.
• If the U.S. healthcare legislation overhaul is not passed, or is postponed, it will put "a lot of doubt" on the "Trump trades," which include higher U.S. equities and bond yields, DoubleLine Capital Chief Executive Jeffrey Gundlach said on Wednesday.
"Surveys show that people believe the (Obamacare) repeal is the most likely part of Trump’s agenda to be passed," Gundlach, who oversees more than $101 billion in assets at DoubleLine, told Reuters. "So if you can’t pass the repeal, everything else is in doubt for sure."
• Oil prices recouped much of their losses after sliding to almost four-month lows on Wednesday after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June.
Global benchmark Brent crude futures for May delivery were down 31 cents at $50.65 a barrel by 2:33 p.m. EDT (1833 GMT). The contract fell as low as $49.71.
On its first day as the front-month, U.S. West Texas Intermediate (WTI) crude futures for May settled 20 cents lower at $48.04 per barrel. The session low was $47.01.
Both benchmarks hit their lowest since Nov. 30 when OPEC countries agreed to cut output, and both remained in technically oversold territory. WTI was oversold for the third day in a row, Brent for the second.
• The U.S. Energy Information Administration (EIA) said U.S. inventories climbed by almost 5 million barrels to 533.1 million last week, far outpacing forecasts for an increase of 2.8 million.
Reference: CNBC, Reuters
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