On Friday, the major US currency slipped because New York Federal Reserve President John Williams told that the correlation between inflation and employment is already kicking…
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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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…