The dollar fell against major foreign currencies Monday. Investors are more anticipating the Republican-sponsored tax reform bill will pass, but failed to lift the dollar rise. Money exchange brisbane city.
The dollar index, which tracks the movement of the greenback against a basket of six currencies, was down 0.4% at 93.57 and hit 93.932 late last Friday.
The euro rose to 1.1804 US dollars, last Friday reported 1.1758. The pound rose to 1.3394 U.S. dollars from 1.3326 last Friday.
Last Friday, the dollar rose, the tax reform bill is expected to cross the border, providing the dollar support. On Monday, the dollar cleared some of its gains on Friday. It is expected that the tax reform bill will be passed, and before the weekend, it will be delivered to President Trump for signing into law. Money exchange brisbane city.
Analysts said the dollar rebound in support of the euro against the dollar, the pound rose against the dollar. Investors have taken profits after the recent rise in the dollar. But later this week, Congress is expecting to pass the tax reform bill, when the dollar is expected to re-obtain demand.
In economic data, the United States in December residential confidence index rose 5 points to 74, the highest since 1999.
The report pushed up the dollar slightly higher, but the dollar against the major foreign currencies are still lower today.
The dollar rose on Friday. President Trump said the final version of the tax reform bill would include extending tax benefits to children, with reports that the changes are expecting to prompt a dissenting Republican member to turn to support the bill.
The dollar index rose 0.4% to 93.871, but still down this week.
The euro fell to $ 1.1761 and was trading at 1.1778 late Thursday.
Sterling dropped to $ 1.3321 and was trading at 1.3430 late Thursday.
The Canadian dollar continued to strengthen on Friday, with Bank of Canada Governor Poloz speaking as a rising eagle, but there was also a dovish talk during the interview. Overall, investors believe his conversation is fruitful. Money exchange brisbane city.
The European Central Bank on Thursday decided to keep the interest rate unchanged and predicted that inflation will remain weak in the next three years and the euro will fall. Today, the euro cut some of the decline, the expected pressure at 1.1850 US dollars.
As for the Brexit in Britain, the cost of the Brexit settlement proposing by the United Kingdom was considered acceptable and the EU leaders agreed to allow the negotiation to enter the second phase. However, the pound still fell on Friday. Money exchange brisbane city.
As the U.S. tax reform bill still has uncertainties and whether the Republican Party has enough votes to pass the bill. Nor is it certain that investors are cautious about U.S. tax cuts.
The euro fell against the dollar as analysts said the ECB was pressuring by the European Central Bank’s decision on Thursday to keep interest rates and quantitative easing unchanged, the U.S. Fed raise interest rates on Wednesday and is expected to raise interest rates again three times next year. Money exchange brisbane city.
The dollar and the euro saw the sawing trend. The dollar was lower at the morning session, but the dollar rebounded on better-than-expected economic data. The European Central Bank raised its forecast of economic growth, the euro rose, and then cut its gains.
In Britain, the Bank of England decided to keep interest rates unchanged and the pound briefly cut its gains but still higher.
The dollar index rose 0.3% to 93.717.
The euro fell to 1.1772 US dollars on Wednesday at 1.1827.
The pound rose to 1.3428 U.S. dollars, New York Wednesday at 1.3419. The pound touched its highest since last Friday and then cut its gains. Money exchange brisbane city.
the Swiss National Bank to maintain loose monetary policy, negative. The Swiss franc dropped to 0.9900 against the U.S. dollar and was trading at 0.9853 late Wednesday.
The European Central Bank to maintain interest rates unchanged, but raised the economic outlook, the euro morning moderate rise. However, due to inflation expectations in 2020, below analysts’ estimates, the euro subsequently reversed its decline.
The European Central Bank is still scheduling to halve its bond purchases in January to 30 billion euros.
Bank of England unanimously agreed to keep interest rates unchanged, the.
The British government’s Brexit voted Wednesday night, frustrated and sterling investors also assessed its impact. This setback to Prime Minister Meh may have opened the door to soft-off. Money exchange brisbane city.
In the United States, the dollar continued its weaker trend on Wednesday morning. The Fed raised interest rates on Wednesday, but said inflation will remain low in 2018 and the dollar weakened.
Earlier, Euro approaching $ 1.1865 before retreating. Analysts said investors looking forward to Christmas presents are feeling disappointing. As ECB President Draghi sees a substantial improvement in economic growth outlook but the current low. The inflation does not guarantee that monetary policy will change.
In the economic data, the United States announced today that retail sales rose 0.8% in November, up 0.4% from the previous estimate. Excluding motor vehicles, 11 retail sales rose 1%, an increase of 0.7%.
In the week ended December 9, the number of initial jobless claims dropped to 225,000, estimated at 235,000. Money exchange brisbane city.
US import prices rose 0.7% in November, up from 0.2% in October.
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