Greenback trades lower with American tax bill still in focus

Greenback trades lower with American tax bill still in focus

On Thursday, the evergreen buck went down versus key currencies because uncertainly over the fate of a key American tax reform bill kept weighing and financial markets were still following Donald Trump’s diplomatic of Asia.  

Market participants were still cautious because an American Senate tax-cut bill that greatly differs from one in the House of Representatives, was believed to be revealed a bit later on Thursday.

On Tuesday, the Washington Post informed that Senate Republican leaders were considering delaying the implementation of key corporate tax cuts for the purpose of complying with Senate rules.

Investors are concerned over any probable delays in the implementation of the tax cuts or the likelihood that proposed reforms appear to be less radical than hoped for.

The currency pair EUR/USD gained 0.16% trading at 1.1615, GBP/USD rallied 0.24% being worth 1.3145.

Additionally, USD/JPY tumbled 0.23% hitting 113.64, USD/CHF lost 0.22% showing 0.9978.

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