Forex — Dollar Continues to Slide Ahead of the Fed Chairman to Choose

The dollar was weak against other currencies on Thursday. — The dollar continued the decision on the next Chairman of the Federal Reserve, and as in-house push on Thursday before President Donald Trump, Republicans unveiled their tax reform bill.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 94.63 at 09:11 PM ET (01:11 PM GMT).

House Republicans have released a tax-reform bill » on Thursday that would cut., the corporate tax rate to 20% from 35% The dollar was strengthened by the hope that tax reform can increase growth and the pressure that the Federal increase Reserve interest rates Prices were unchanged from the Fed on Wednesday, and expectations for a December interest rate hike increases, in the midst of economic data.

Later on Thursday, trump is expected to nominate Fed Governor Jerome Powell, a rather quiet candidate, which weighs on the dollar. The dollar was down against the yen, with USD/JPY down 0.26% to 113.87

Meanwhile, sterling fell after the Bank of England increases the interest rates for the first time in a decade. GBP/USD fell 1.22% to 1.3082. The pound rose to a one-week low against the euro, with EUR/GBP rising to 1.64% to 0.8916.

The euro was also higher against the dollar, with EUR/USD 0,40% increases to 1.1665.

The Australian and the new Zealand Dollar, with AUD/USD up to 0.55% at 0.7719 and NZD/USD up 0.48% to 0.6920.

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