Greenback stands still with American tax overhaul in focus

Greenback stands still with American tax overhaul in focus

On Wednesday, the evergreen buck didn’t change versus other key rivals amid fresh worries over an approaching US tax overhaul.

The US currency was affected by reports that a major corporate tax cut currently under discussion in American tax reforms plans could be postponed for a year.

On Tuesday, the Washington Post informed that Senate Republican leaders are actually considering postponing the implementation of the key corporate tax cut for the purpose of complying with Senate rules.

The greenback had been backed during the recent trading session by expectations that the US administration's tax cuts could spur the American economy.

The US dollar index, traditionally assessing the greenback’s value against a basket of six crucial currencies, didn’t change sticking to 94.77.

The currency pair USD/JPY slid 0.16% trading at 113.82, drifting away from Monday's eight-month maximum of 114.73.



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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