Forex – Dollar Slips Lower but U.S. Tax Hopes Support

Dollar loses ground but remains supported by tax overhaul hopes

Investing.com – 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 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 , 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).

edged up 0.13% to 1.1763, while added 0.16% to 1.3344.

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

rose 0.10% to 112.71, while held steady at 0.9901.

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

Meanwhile, eased 0.09% to 1.2853.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Comments

comments