Welcome to Tuesday!
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.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…