Growth of US Dollar Goes On

Market Reviews

The US dollar continues to strengthen against major currencies after strong economic data. Core durable goods orders in the US rose by 1.7% last month, the government said today. Economists predicted an increase of 1%. Ex-transport orders increased by 0.2% in line with expectations.

Traders are waiting for the announcement of US President Donald Trump about tax reform. It is reported, that the corporate tax rate will be reduced from 35% to 20%. Top individual income tax rate will also decrease from 39.6% to 35%.

The growth of the US dollar is also supported by yesterday's speech of Fed Chair Janet Yellen. Despite concerns over inflation, Yellen still expects the Fed to continue with gradual adjustments in the stance of monetary policy.