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Wednesday 20 December 2017

Fluctuating dollar following the announcement of the tax cuts in the US

The dollar appreciated against most currencies on Tuesday, thanks to optimistic data from US building permits, but profits were limited by doubts about the overall impact of the country's main tax revision plan. The Republican Chamber of Deputies approved a large-scale tax bill on Tuesday, then the bill passed through the Senate and was approved. The majority in the US Senate is Republican, and this has made it easier to accept the project.
Green money rose against the yen, and against the euro depreciated after parliament approved the bill.
At the beginning of the session, the dollar appreciated as US housing data reported a 13-month high in November, while data on single-family houses struck a 10-year high. At the end of the session, green money was 0.28% higher against the yen to 112.85 yen. The euro grew slightly against the euro, with the single currency closing the session at 1.18399, which is 0.51% higher than on Monday.


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