The dollar has been bolstered in recent sessions by hopes for tax reforms after the Senate approved a budget measure that will allow Republicans to pursue tax cuts without Democratic support.
Demand for the dollar has also been underpinned by speculation over an accelerated pace of interest rate increases if current Federal Reserve Chair Janet Yellen, whose term expires in February, is replaced by a more hawkish candidate.
President Donald Trump has said he is weighing five candidates to lead the Fed, including Yellen, who is perceived by investors as the least hawkish.
Speculation over a more hawkish Fed leader helped offset concerns over a feud in the Republican Party which could hamper Trump’s efforts to push through his legislative agenda.
Stefan Angelov - Head of Stocks Trading
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.