Analysis of the American trading session

During the American session on Monday, 12/18/2017, the US dollar demonstrated mixed dynamics against the basket of currencies, but nevertheless ended the trades down against most major competitors. The main pressure on the American currency was provided by raised doubts as to whether the tax reform in the USA would have a significant effect on the growth of the economy. The pressure was also expressed by a representative of the Federal Reserve Kashkari, who expressed his concern about inflation and rising interest rate of the Fed. See “The US Dollar remains under pressure”.

The British pound kept a solid position against the US dollar during the US trading due to the general weakening of the US currency, as well as news on Brexit. On Monday, Teresa May announced that Britain is moving steadily towards soft Brexit. May also noted that the representative of the leadership team of negotiators from the EU reported that after the Brecks, the UK will be able to obtain a trade agreement.

Alexander Syvtsov