The dollar to limit its losses and remains supported
Investing.com – The dollar to limit its losses against its rivals on Monday as the political turmoil in Washington, weighs, although the tax reform has been adopted by the Senate, thereby supporting the dollar.
The greenback strengthened after the U.s. Senate has approved a revision to tax on Friday night, marking the first major political victory of president Donald Trump.
The administration, Trump said that his tax cuts would generate growth and stimulate inflation, which, hope to the investors, which would speed up the monetary tightening by the federal Reserve.
Investors remained cautious in the face of concerns raised by the recent survey on the Russian federation, as a result of the published information on Friday according to which the former national security adviser, Michael Flynn is ready to testify against Trump in the ongoing investigation.
Flynn pleaded guilty Friday morning to have lied to the Federal Bureau of Investigation about his communications with the Russian ambassador to the United States in December 2016. He also admitted to having discussed with a top official of the transition team of Trump.
The index dollar, which measures the greenback’s strength against a basket of six major currencies, ahead of 0.40% to 93.17 at 05:15 a. m. AND (09:15 GMT).
The EUR/USD gives up 0.34% at 1.1855 while the GBP/USD is losing 0.30% at 1.3432.
The book has made a rally last week, as discussions on the Brexit moved in a positive direction.
However, investors were more cautious after the european Union gave to the british Prime minister Theresa May until Monday to offer a divorce.
The yen and the swiss franc declined, with USD/JPY up 0.62% to 112.89 while the USD/CHF is hauling 0.71% to 0.9832.
Elsewhere, the australian dollar, and new zealand are on the retreat, with the AUD / USD down to 0,7604 and NZD / USD down 0.39% to 0,6864.
In the meantime, the USD/CAD is stable at 1.2691.