Analysis of the American trading session

During the American session on Monday, October 30, 2017, the US dollar weakened its positions against most of the major market currencies. This decline in the US currency was caused by the cautious position of market participants on the eve of the Fed meeting, as well as in anticipation of Trump’s decision on the new chairman of the Central Bank, which is expected on Thursday. Also, some details about the tax reform put pressure on the US dollar. It is reported that the corporate income tax rate of 20% will not take effect until 2022 and during this period will gradually decline.

The British pound continued to strengthen its positions against the US dollar in the US trading. The growth of the GBP/USD was facilitated by the general weakening of the US dollar, as well as the decrease in the EUR/GBP cross-rate.

Alexander Sivtsov