XE Market Analysis: North America – Nov 10, 2017

EUR-USD edged out a fresh one-week high of 1.1662 after picking up bids following a dip under 1.1630. The market remains in sell-on-gains mode with regard to the dollar, following news that the Senate is delaying the implementation of its planned corporate tax cut. The debate on Capitol Hill remains ongoing, so market will be monitoring developments closely. The dollar didn’t take much solace from Fed member Williams repeating, in an interview with the BBC, his view that a December rate hike “makes sense”, with three more quarter-point hikes pencilled in for 2018.

Source: XE news feed
XE Market Analysis: North America – Nov 10, 2017