Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Forex - Dollar Remains Under Pressure on U.S. Political Concerns

Published 10/11/2017, 05:22 AM
Updated 10/11/2017, 05:22 AM
Dollar affected by U.S. tax overhaul doubts

Investing.com - The dollar remained broadly lower against other major counterparts on Wednesday, as doubts over a potential U.S. tax overhaul before the end of the year weighed on the greenback.

The greenback came under pressure as U.S. President Donald Trump's public feud with Tennessee Senator and fellow Republican Bob Corker sparked concerns over the vote of a major tax-code reform.

Market participants were also looking ahead to the minutes of the Federal Reserve's most recent policy meeting, due to be released later in the day.

At its September meeting, the Fed had signaled the possibility of a third rate hike t his year.

EUR/USD eaased up 0.08% to 1.1817, its highest since September 26, as Spanish political tensions temporarily eased.

Catalan President Carles Puigdemont on Tuesday signed a document proclaiming the region's independence from Spain, but he also suspended the move for the coming weeks to allow for talks with the Spanish government, averting an immediate crisis.

The Spanish government was scheduled toconvene in Madrid on Wednesday to shore up its response to the Catalan independence movement.

Elsewhere, GBP/USD dipped 0.09% to 1.3191.

The yen was higher, with USD/JPY down 0.15% at 112.26, while USD/CHF was little changed at 0.9753.

The Australian dollar was stronger, with AUD/USD up 0.12% at 0.7786, while NZD/USD held steady at 0.7067.

Meanwhile, USD/CAD was almost unchanged at 1.2515.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 93.03 by 05:20 a.m. ET (09:20 GMT), just off a more than one-week low of 92.89 hit earlier in the day.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.