How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Greenback moderately recovers from American tax reform worries
On Monday, the evergreen buck soared versus other key currencies because it mildly revived from losses posted last week due to mounting worries over the fate of a highly-anticipated American tax reform.
On Thursday, Senate Republicans unveiled a tax plan. It stood out from the one made by House Republicans. It highlighted the challenges to clarify the differences between the two opposite initiatives with a short time before the end of 2017 they have set to pass it.
Expectations of tax reform have helped to spur the evergreen buck since mid-September. Some market participants are assured that tax reforms could ensure growth, applying pressure on the Fed to lift interest rates.
Estimating the greenback’s value against a trade-weighted basket of six crucial currencies, the US dollar index soared 0.25% being worth 94.54.
The currency pair EUR/USD slumped 0.22% hitting 1.1640, GBP/USD lost 0.84% trading at 1.3081.
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