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New York foreign exchange market – USD back down from one month high despite strong economic data

29 Sep , 17 By account

New York foreign exchange market – the USD back down from one month high despite economic data

Thursday trading, the USD from a month high point back, ignoring the economic data being bullish. Best Place to Exchange Money Brisbane

The dollar index, which tracks the dollar against the basket, fell nearly 0.3 percent to 93.122. Wednesday hit a high since August 23. Best Place to Exchange Money Brisbane

The dollar fell to 112.38 yen, New York Wednesday late at 112.82. On Wednesday, the dollar broke through 113 yen for the first time since mid-July breakthrough in the level.

The euro rose to $ 1.1786, late Wednesday at 1.1745.

The Fed hinted that it would raise interest rates in December and raise interest rates several times in 2018. The dollar is thus supported.

On Wednesday night, President Chuanpu announced the tax reform plan, including the corporate tax rate from the current 35% to 20%, and provide concessions to promote the US companies to overseas profits back to the country.

This week, the dollar rose more than 1.2%, is expected to hit the best performance of the week. Some analysts said the tax reform is expected to progress, help support the dollar. But there are analysts suspected tax reform on the dollar.

Analysts said the US and Japan’s yield gap, continued to support the dollar against the yen. But the Japanese government may change, if the leadership substitutions, may affect the yen trend.

Economic data, the United States in the second quarter gross domestic product (GDP) by 3% growth to 3.1% growth. On the end of September 23, the number of initial jobless claims in the United States rose to 272,000, estimated at 27 million. US trade deficit in August reached 62.9 billion US dollars, estimated at 65 billion.

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