Potential tax cut delay weighs on US dollar

Potential tax cut delay weighs on US dollar
This potential delay pushed the dollar back against a variety of currencies

Mubasher: The US dollar on Wednesday dropped on concerns about a possible delay in the corporate tax cut in the US.

The Washington Post reported that Senate republican leaders could consider a one-year delay in the implementation of a corporate tax cut under a broader discussion on a potential delay in tax reform plans.

This potential delay pushed the dollar back against a variety of currencies, as the EUR/USD pair rose 0.1% to $1.1597 during Wednesday’s trading, while the dollar index (DXY) slipped 0.1% to 94.844.

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Source: Mubasher

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