Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Indexes  >  US Dollar Index       

Mes dernières consult.
Most popular
News SummaryAll newsTweets

Dollar on back foot ahead of Senate tax-cut bill

share with twitter share with LinkedIn share with facebook
share via e-mail
11/09/2017 | 06:18pm CET
Illustration photo of a U.S. Dollar note

The dollar slipped to its lowest against the yen this month on Thursday, and remained weak against a basket of major currencies, ahead of the expected release of a tax-cut bill by Senate Republicans.

The Senate tax-cut bill differs from one in the House of Representatives and could complicate a Republican tax overhaul push, increasing skepticism on Wall Street about the effort.

The dollar was 0.32 percent lower against the Japanese currency to 113.49 yen. It fell to a low of 113.86 yen, its lowest since Oct. 31, earlier in the session.

The dollar index <.DXY>, which tracks the greenback against six major currencies, was down 0.22 percent at 94.656.

"There is something of a risk-off undertone that may prevail in the market until we get some clarification on the tax cut plan we are expecting to get from the Senate," said Shaun Osborne, currency strategist at Scotia Bank in Toronto.

Any potential delay in the implementation of tax cuts, or the possibility of proposed reforms being watered down, would tend to work against the dollar, analysts said.

Traders also pointed to a sudden fall in Japanese equities from multi-decade peaks on dampening risk sentiment in Asian trade, a mood that continued into London trading hours with European stocks also falling.

The dollar index was little changed after data showed the number of Americans filing for unemployment benefits rose more than expected last week, suggesting that claims processing disrupted by recent hurricanes has begun to improve.

"Essentially they are still at extremely positive levels," said Osborne.

"We know we have a very tight labor market in the U.S. but that’s not yet translating to significantly higher wages. That's still the caveat to the labor market story."

Euro zone government bond yields jumped on Thursday, kicking recent sharp falls into reverse, and the euro climbed to a six-day high. The common currency was up 0.3 percent against the greenback.

Britain's sterling was little changed on the day as expectations for a gradual tightening of policy from the Bank of England protected the pound from the political turmoil engulfing Prime Minister Theresa May's government.

(Reporting by Saqib Iqbal Ahmed; Editing by Susan Thomas)

By Saqib Iqbal Ahmed

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on US DOLLAR INDEX
04:43p MARKET SNAPSHOT : Stocks Eke Out Records In Quiet Session; Netflix Rallies After..
03:55p MARKET SNAPSHOT : Stocks Poised For Flat Open; Netflix Rallies After Results
03:28p MARKET SNAPSHOT : Dow Futures Rally As Investors Move Past Shutdown To Focus On ..
11:56a CURRENCIES : Dollar Rebounds Slightly As 3-day Government Shutdown Comes To A Ha..
09:53a MARKET SNAPSHOT : Dow Futures Rally 100 Points As Investors Move Past Shutdown W..
09:30a MARKET SNAPSHOT : Dow Futures Rally 100 Points As Investors Move Past Shutdown W..
01/22 USDA Ark/Louisiana/Tex/Calif Weekly Rice Review - Jan 22
01/22 MARKET SNAPSHOT : Stock Market Ends At Record As Senate Moves To End Government ..
01/22 Stocks Rise to New Highs on Senate Deal to End Shutdown
01/22 Coffee, Cocoa, Orange Juice Futures Rally on Demand Hopes
More news
Duration : Period :
US Dollar Index Technical Analysis Chart | 4-Traders
Technical analysis trends US DOLLAR INDEX
Short TermMid-TermLong Term