Greenback is at 2-1/2 week maximums

Greenback is at 2-1/2 week maximums

On Friday, the US currency was hovering over a two-and-a-half week maximums versus other key currencies, amid mounting optimism as for a crucial US tax reform plan. Additionally, the greenback was underpinned by the fact traders closely watched the publication of major American employment data a bit later in the day.

The US dollar was driven after on Thursday the US approved legislation to temporarily fund the American government through December 22, prior to a Friday midnight deadline. It powered expectations that the highly-anticipated American tax reform is going to be passed before the end of 2017.

Republicans welcomed negotiations with the House of Representatives on a key tax reform bill, indicating that lawmakers could come to a compromise on a final bill prior to a self-imposed December 22 deadline.

The common currency dived, with EUR/USD losing 0.20% showing 1.1749, which is the lowest reading since November 23.

GBP/USD stood still sticking to 1.3474. USD/JPY rose 0.34% hitting 113.47.


The US NFP Update: What to Wait for?
The US NFP Update: What to Wait for?

The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.

Latest news

Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

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