New to site?


Login

Lost password? (X)

Already have an account?


Signup

(X)
Farooq

Dollar Slips Lower but U.S. Tax Hopes Support

HomeForexDollar Slips Lower but U.S. Tax Hopes Support
18
Dec
Dollar Slips Lower but U.S. Tax Hopes Support
  • Author
    admin
  • Comments
    0 Comments
  • Category

The dollar slipped lower against other majors currencies on Monday, but remained supported by hopes a major U.S. tax overhaul will be passed before the Christmas holiday.

The greenback was lifted after Republicans on Friday put the finishing touches on a sweeping tax overhaul bill.

They are confident Congress will now pass the tax bill this week, with a Senate vote planned as early as Tuesday.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.09% at 93.38 by 02:05 a.m. ET (06:05 GMT).

EUR/USD edged up 0.13% to 1.1763, while GBP/USD added 0.16% to 1.3344.

The euro found support after Germany’s Social Democrats agreed on Friday to open coalition talks with Chancellor Angela Merkel, providing a chance to end the country’s political deadlock. However, the talks are not expected to begin until January.

USD/JPY rose 0.10% to 112.71, while USD/CHF held steady at 0.9901.

Elsewhere, the Australian and New Zealand dollars were stronger, with AUD/USD up 0.21% at 0.7663 and with NZD/USD gaining 0.37% to trade at 0.7020.

Meanwhile, USD/CAD eased 0.09% to 1.2853.

Tags:

Related Posts
Leave A Comment

Leave A Comment

Middle East Financial Investment