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Dollar Soft amid Continuing Uncertainty About US Tax Reform

The US dollar was soft during the past trading week, falling against its major rivals, as markets continued to watch the developments in the US tax reform story.

British Pound Declines Against US Dollar on Strong Housing Data

The British pound today declined against the US dollar after the release of positive US housing starts and building permits data. The GBP/USD currency pair reversed all its earlier gains made during the early European session after an initial decline triggered by uncertainties regarding the ongoing Brexit negotiations.

Canadian Dollar Firm Despite Falling Employment

The Canadian dollar gained even though nation’s employment dropped last month. Other economic reports were good, though.

EUR/USD Trades Sideways on Eurozone and US Data

The EUR/USD currency pair was on a downtrend for most of the European session after the release of Eurozone CPI data for October. The pair later rebounded in the early American session after the release of US macro data.

Aussie Strong Despite Employment & Inflation Data

The Australian dollar gained today even though employment data missed forecasts and the inflation expectations gauge decreased this month.

US Dollar Erases Earlier Losses Against Euro Despite Weak Consumer Spending

The US dollar erased earlier losses against the euro on Wednesday, even as lower than expected data for consumer spending on core retail items weighed on the US currency. The greenback received additional pressure from a big drop in manufacturing activity in New York.

Japanese Yen Gains Even as Economic Growth Slows

The Japanese yen gained today even as the country’s economic growth missed expectations. Some analysts argued, though, that the data was not entirely bad, and this may explain the currency’s gains.

Australian Dollar Falls as Wage Growth Stagnates

The Australian dollar fell today against its major rivals, though it has trimmed losses against some of them by now. The main reason was underwhelming wage inflation, though the falling consumer confidence was not helping the currency either.

British Pound Declines Against US Dollar on UK Labour Report

The British pound today briefly rallied higher against the US dollar after the release of the UK employment data by the Office for National Statistics, which beat expectations. However, the rally was short-lived as the GBP/USD currency pair retraced all its gains within the same hour as markets reviewed the labor report.

US Dollar Declines Against Major Peers Despite Upbeat Inflation Data

The US dollar fell against a basket of its major peers on Tuesday, despite an economic report that showed stronger inflation than expected last month. The greenback further weakened against the euro as the German economy displayed solid growth in the third quarter of 2017, which supported the shared currency.

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