Analysis of the American trading session

During the American session on Monday, November 13, 2017, the US dollar was trading in a mixed dynamic against the basket of currencies and completed trading with growth against most competitors. The uncertainty regarding the implementation of the tax reform still continues to exert pressure on the US currency. Also, the course of trading was influenced by the expectation of the conference of the heads of central banks in Frankfurt. It will be on Tuesday, where the head of the ECB, the Federal Reserve, the Bank of Japan and the Bank of England will hold speeches.

The single currency continued to strengthen its positions against the US dollar in US trading. This was caused by a decrease in the yield of US state bonds and the growth of the cross-rate EUR/GBP.

The British pound rose against the US dollar during the US session, which was caused by profit-taking by investors, after weakening the pound at the beginning of Monday’s trading. The pound remains under pressure caused by rising political tensions in the UK and growing concern about Teresa May’s future as prime minister. See The British Pound is under political pressure.

Alexander Sivtsov