Boris and Kathy Forex Weekly – 13-11-2017 – Crosses
November 12, 2017 9:49 pm
The movements in the forex market this past week confirmed how important tax reform is to the American people, Congress and the financial market. If done right it will be President Trump’s greatest achievement. The only problem is that not everyone believes that it will provide the U.S. economy with a sustainable long-term boost and more importantly the vast differences between the versions proposed by the House and Senate means a showdown in Washington. Throughout the past week we have seen how setbacks in tax reform has hurt the dollar and in coming week, we need to see progress rather than regression for the U.S. dollar to resume its rise. The greenback ended the week lower against all of the major currencies. Sterling experienced the strongest gains at just over 1% followed by the Swiss Franc and Japanese Yen. The Australian dollar saw the narrowest rise, spending the entire week trading between a narrow .7628 to .7700 range.
The movements in the forex market this past week confirmed how important tax reform is to the American people, Congress and the financial market. If done right it will be President Trump’s greatest achievement. The only problem is that not everyone believes that it will provide the U.S. economy with a sustainable long-term boost and more importantly the vast differences between the versions proposed by the House and Senate means a showdown in Washington. Throughout the past week we have seen how setbacks in tax reform has hurt the dollar and in coming week, we need to see progress rather than regression for the U.S. dollar to resume its rise. The greenback ended the week lower against all of the major currencies. Sterling experienced the strongest gains at just over 1% followed by the Swiss Franc and Japanese Yen. The Australian dollar saw the narrowest rise, spending the entire week trading between a narrow .7628 to .7700 range.
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