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On Friday, the evergreen buck was nearly intact sticking to a one-week minimum versus other key currencies. It’s because worries over the fate of a highly-anticipated American tax reform bill applied pressure on the US currency.
The greenback was pressured due to the news that the Senate Republicans' bill tax overhaul would postpone implementation until 2019.
Like their House rivals’ version, the Senate's proposal also suggests cutting the corporate tax rate from 35% to 20%.
Besides this, both bills would add approximately $1.5 trillion over 10 years to the American budget deficit as well as national debt.
The currency pair EUR/USD was intact being worth 1.1641. GBP/USD slid 0.11% showing 1.3131.
USD/JPY was intact, sticking to 113.49. Meanwhile, the currency pair USD/CHF managed to grow 0.20% trading at 0.9948.
AUD/USD gained 0.09% demonstrating 0.7686, NZD/USD dived 0.10% hitting 0.6939.
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Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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