Daily Traders Edge

Dollar dips on tax reform uncertainty, euro strength

October 11
14:31 2017

LONDON, Oct 11 (Reuters) – The dollar dipped to a 12-day low against a basket of major currencies on Wednesday as uncertainty that U.S. President Donald Trump’s would push through his planned tax reforms pushed the greenback down against a broadly stronger euro.

The euro hit a two-week high of $1.1845, climbing alongside Spanish stocks and bonds, on relief that Catalonia had stopped short of formally declaring independence from the rest of Spain.

“The euro has been supported mainly due to the tapering decision coming up for the ECB and general uncertainty around the U.S. tax plans,” she said.

U.S. President Donald Trump’s public feud with Tennessee Senator Bob Corker, an influential fellow Republican, raised concern among investors that his push for a tax-code overhaul could be harmed.

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