US Dollar Strengthened Amid News on Tax Reform
The US dollar rose from the start of trading against the euro, the Japanese yen and the British pound after it became known that the US Senate approved a revision of the tax law this weekend. Last Saturday, the US Senate approved the largest tax reform in the last 30 years.
The reduction of taxes is part of the program of US President Donald Trump. It is designed to encourage the growth of the US economy and create new jobs, as well as to promote investment.
Despite the growth, the US currency is still struggling with the potential negative pressure from the current investigation about the impact of Russia on the US presidential election.