Economic news

U.S. tax cut optimism supports dollar

The dollar traded at 112.48 yen on Tuesday, sliding from two-week high of 113.09, reached on Monday.

The euro was firm at $1.1875, as the single currency was supported by hopes the two major German parties - Social Democrats (SPD) and Mrs Merkel's Christian Democratic Union (CDU) - would create a large coalition.

Sterling traded at $1.3475, dipping from last week's two-month peak of $1.3550, after the UK and the European Union failed to reach a highly anticipated Brexit agreement on Monday.

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  • George Jk
    • #

    Investors do not buy the dollar, preferring to wait for the Congress's decisions on tax reform, but the euro does not have new drivers to continue the rally, which increases the risks of consolidating EUR / USD in the range of 1,172-1,202.

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