The South African Finance Minister is delivering a budget speech today. There may be a strong impact on ZAR, so what's going to happen?
Greenback dives, but staying backed by US tax expectations
On Monday, the evergreen buck declined versus other key currencies, although remained backed by expectations that a key American tax overhaul will be approved before the Christmas holiday.
The US currency was underpinned after on Friday Republicans put the final strokes on a sweeping tax overhaul bill.
They don’t doubt that this week Congress will have the tax bill approved.
Evaluating the greenback’s strength versus a basket of six crucial currencies, the US dollar index headed south 0.09% being worth 93.38.
The currency pair EUR/USD rallied 0.13% trading at 1.1763, GBP/USD gained 0.16% being worth 1.3344.
The common currency gained support after on Friday Germany's Social Democrats decided to start coalition negotiations with Chancellor Angela Merkel, thus giving a chance to end Germany’s political deadlock.
The currency pair USD/JPY managed to grow 0.10% hitting 112.71.
Let’s consider the best and the worst-performing assets as Monday’s session kicks in.
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