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USD Has Little Enthusiasm for Tax Bill; EUR/USD, GBP/USD Gain

From dailyfx.com

Despite the enthusiasm in US equities around passage of the tax reform bill, the US Dollar seems to have very little to say about it. After all, since it become clear at the start of the week that the reform bill would be passed by today, the US Dollar (via DXY Index) has endured a three-day slide. The fact of the matter is that the tax reform bill should be a bonanza for corporate earnings - which are already strong and trending positive - but not necessarily for jobs growth. Realistically, most of the funds repatriated or earned via higher revenue (thanks to lower taxes) will be given back to shareholders via ... (full story)

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  • Category: Technical Analysis