Greenback soars vs. other currencies in thin trade

Greenback soars vs. other currencies in thin trade

On Friday, the US currency tacked on versus other key currencies because American data along with the vote of a key US tax reform plan gave some support to the US dollar.

Thursday’s data disclosed that the American economy edged up 3.2% during the third quarter. It turned to be a downward revision from the previous outcome of 3.3%. Evidently, it happened to be the fastest tempo for more than two years.

The report emerged just a day after the House of Representatives gave the long-awaited approval to the most ambitious American tax overhaul for the last 30 years. That’s undoubtedly Donald Trump's first political achievement.

Assessing the greenback’s value versus a basket of six crucial currencies, the US dollar index tacked on 0.12% being worth 92.95.

The common currency slumped, with EUR/USD descending 0.14% being worth 1.1858. At the same time GBP/USD stood still, sticking to 1.3381.

The Japanese yen didn’t change, with USD/JPY showing 113.37.




Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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