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On Monday, the US currency rallied versus a basket of the other key currencies right after the US Senate successfully passed a tax bill at the weekend, thus spurring expectations for a faster tempo of rate lifts from the major US bank.
The evergreen buck was underpinned by hopes that tax cuts for corporations are going to back the American economy, and also push Treasury yields up because the US government becomes more dependent on debt thanks to reduced tax income.
Market participants were still cautious amid worries over the everlasting Russia probe, reacting to Friday’s reports that ex-national security adviser Michael Flynn is ready to testify against US President Donald Trump in the long-lasting investigation.
The US currency gained ground against the Japanese yen. USD/JPY inched up 0.64% hitting a two-and-a-half week maximum of 112.91.
The common currency dived versus the greenback, with EUR/USD decreasing 0.23% being worth 1.1868.
On Friday, the evergreen buck slumped after Donald Trump had the Federal Reserve heavily criticized for lifting interest rates, although it was still on target for a second winning week…
American multinational companies get down to reevaluating their currency hedging strategies following a leap in the evergreen buck for recent months because the impact of the stronger US currency starts influencing second-quarter corporate profits…
On Wednesday, the British pound headed south to the lowest value for 10 months versus the broadly stronger greenback because suddenly dismal British inflation data decreased chances for an August rate lift by Britain’s key financial institution…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
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