Dollar Up Against Majors Amid Hopes of a Tax Reform
- Trade Magnates Team
- Oct 23, 2017
- 1 min read
Trade Magnates - U.S. dollar is keeping the strength at the beginning of the trading week with the EURUSD at around 1.1731 level.
The pressure continues after the US Senate has approved the federal budget last Thursday and amid hopes for Trump’s tax reform. EURUSD, will be still under the test with the upcoming ECB meeting on Thursday with a dovish tone in relation to QE.
The U.S. dollar index, which measures the dollar’s strength against a trade-weighted basket of six major currencies, was last quoted up at 93.57.
Meanwhile, in the UK, Sterling was higher amid hopes for a breakthrough in Brexit negotiations after British Prime Minister Theresa May met with European Union leaders in Brussels.