Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback is nearly intact as American tax vote eyed
On Thursday, the evergreen buck was fluctuating between minor revenues and losses versus a basket of the other crucial currencies because market participants waited for an anticipated vote on the US tax bill a bit later in the day.
Assessing the greenback’s value against a basket of six main currencies, the US dollar index hit 93.76 having dropped to 93.31 on Wednesday, which was its weakest reading since October 26.
The US currency gained some support after Politico informed that House Republicans are quite confident they have the votes to have a huge rewrite of the US tax code passed later on Thursday.
However, worries over the passage of the tax plan were still actual after on Wednesday two Republican lawmakers dared to criticize the bill.
The greenback soared against the Japanese yen, with USD/JPY rallying 0.21% being worth 113.12.
The common currency was intact versus the US currency, with EUR/USD sticking to 1.1788, which is off Wednesday’s one-month maximum of 1.1859.
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