Currency – The dollar is unchanged on the tax reform


© Reuters. The dollar is unchanged on the tax reform

Investing.com – The dollar oscillates between gains and losses against a basket of currencies on Thursday, as investors await the development of the tax reform.

The index dollar, which measures the greenback’s strength against a basket of six major currencies, is at 93.76 at 03:40 AM ET (08:40 AM GMT), after falling to 93.31 Wednesday, its lowest level since 26 October.

The dollar found some support after Politico reported that the House republicans have charged that the republicans have enough votes to pass a rewrite of massive tax code of the United States later Thursday.

The vote is scheduled during a closed-door meeting at 11:30 AM AND to the Capitol.

But concerns over the passage of the tax plan have persisted after two republican lawmakers have criticized Wednesday the draft law.

The dollar was also boosted after data on Wednesday showed a slight increase of the inflation and retail sales underlying in the United States, supporting the hypothesis of a rate increase by the federal Reserve.

The underlying inflation rate annual is increased to 1.8% in October after having remained at 1.7% during the previous five months. Retail sales rose 0.2%.

The euro was stable against the dollar with the EUR/USD 1.1788 after you hit 1.1859 Wednesday.

The book changes a little with the GBP/USD at 1.3165.

The dollar is advancing against the yen, with USD/JPY up 0.21% to 113.12.

Meanwhile, the australian dollar remains close to a low of 5 months with the AUD/USD has 0.7596 after that national employment has shown job growth has strengthened in October.

The dollar in new zealand is declining, with the NZD/USD down 0.23% to be 0.6857.

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