State of the Market: dollar pending

After yesterday’s decline of the US currency against the main basket of competitors on the growth of the German bonds, the market follows the progress of the tax bill in the US. So, on Tuesday, the representatives’ board approved the revision of the tax reform, thereby giving a green light to voting in Congress. Now it is important to hold another vote due to procedural issues, which will be held on Wednesday.

In addition to the continuing uncertainty about the tax law in the US, the policy of the Bank of Japan acts as a deterrent for the American. As a result, the market’s attention was focused on the forthcoming report of the Bank of Japan, which will be released on Thursday.

The US dollar index remains under pressure, limited to an uptrend and support levels: 93.200 and 93.000.

Graph of the US dollar index. The current price is 93.400.

Hanzenko Anton