Yesterday’s high: $1.3175
Yesterday’s low: $1.3114
US Dollar Strengthens on Hopes for Tax Reform
Despite a lack of notable ecostats published on Tuesday, demand for the US Dollar increased.
Expectations that the Fed will hike US interest rates in December and rising hopes for success in US President Trump’s plans for tax reforms are lending the US Dollar underlying support.
USD Outlook: Political News in Focus
Political developments continue having a significant impact on the outlooks for the US Dollar and Pound in the weeks ahead.
Any signs that UK-EU Brexit negotiations are speeding up would make the Pound more appealing, while progress in US tax reform plans would be US Dollar-positive. However, if the tax bill faces obstacles in Congress like the healthcare act did earlier in the year, the US Dollar is likely to weaken considerably.
12:00 US MBA Mortgage Applications
13:30 US Jobless Claims
15:00 US Wholesale Inventories
09:30 UK Balance of Trade
09:30 UK Manufacturing and Industrial Production
09:30 UK Construction Output
15:00 US Michigan Consumer Sentiment
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