Analysis of the American trading session

During the American session on Monday, December 4, 2017, the US dollar strengthened against most major currencies. Main support to the American currency was provided by positive news that American politicians approved a tax reform, the idea of which is the reduction of the tax from companies to 25% from the current 35%. Also, the additional support for the US currency was caused by an increase of the US state bonds.

The British pound, during the American session, lost most of it previously earned positions against the US dollar. Earlier, the pound was supported by the hope that the Prime Minister of Great Britain Teresa May will be able to persuade key politicians during her visit to Brussels to move further in negotiations on Brexit till the end of December. Catalyst correction of the pound was the statement of the chairman of the European Commission Juncker that on Monday it was not possible to reach a final agreement between the Great Britain and the EU.

Alexander Sivtsov