Shares, dollar lick wounds as Trump rout eases

Asian and European shares eased back from their slide on Friday, but along with the dollar were still heading for major losses as worries persisted over the future of Donald Trump and his economic stimulus plans. David Pollard reports.

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He denies collusion with Russia.
And dismisses claims he wanted a probe into a disgraced national security advisor dropped.
For Donald Trump, it is, he says, a ‘witch hunt’.
And as for talk of impeachment:

(SOUNDBITE) (English) U.S. PRESIDENT DONALD TRUMP SAYING:

“I think it’s totally ridiculous. Everybody thinks so …”
But for markets, the Trump spell is clearly broken.
Despite some respite on Friday, most ending the week deep in the red.
Tokyo’s Nikkei: heading for a 1.8 per cent loss.
Australian shares, down two per cent.
The dollar set for a 1.7 percent fall.

(SOUNDBITE) (English) JEREMY STRETCH, HEAD OF G10 FX STRATEGY, CIBC, SAYING:

“That does underline that markets will remain uncertain … I think it is going to be a case of more firefighting from the from the White House and not necessarily pushing on with the agenda that markets would wish to pursue.”
And emerging markets stocks braced for worse as Brazil’s corruption scandal lurched on.
MSCI’s EMs index slumped two percent on Thursday.

(SOUNDBITE) (English) JEREMY STRETCH, HEAD OF G10 FX STRATEGY, CIBC, SAYING:

“Political instability is now once…

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