Hellenic Bank Public Company Ltd

FX Commentary

The U.S. dollar edged higher against a basket of major currencies on Thursday, rebounding from a more than three-week low in the previous session, after the U.S. House of Representatives passed their version of the tax overhaul bill.

The dollar index, which measures the greenback against six rival currencies, was up 0.13 percent to 93.933.

The U.S. House of Representatives approved a broad package of tax cuts affecting businesses, individuals and families on Thursday, moving Republicans and President Donald Trump an important step closer to the biggest tax code overhaul in a generation.

The dollar index, which hit 93.813 on Wednesday, its lowest since Oct. 20, was also boosted by a general improvement in risk appetite across financial markets.

Investors tentatively returned to stock markets around the world looking for bargains on Thursday.

The common currency had soared this week after data showed the German economy shifted into a higher gear in the third quarter, but gave up some gains after Wednesday's upbeat data on underlying inflation in the United States.

The euro was 0.23 percent lower at $1.1764.

The Canadian dollar strengthened against its U.S. counterpart as data showing a surprise rise in domestic manufacturing sales in September offset lower oil prices.

The greenback rose 0.55 percent against the Swiss franc after the Swiss National Bank signalled that it remained committed to its ultra-loose monetary policy.


FX Commentary
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