-1.4 C

Dollar Hits Below $800, Its Volatility Directly Linked To Waiting For US Data



The exchange rate dipped below $800 in today’s session and eventually averaged $800.72 after 2pm, a similar level to yesterday’s Wednesday.

Dollar volatility is directly related to waiting for data release in the US. The market is focusing on non-farm employment figures.

Similarly, Federal Reserve (Fed) President Jerome Powell said the Fed has yet to make a decision on the extent of its rate hikes, waiting to learn more about various economic data. I made it clear that

Libertex analyst Jose Munoz said copper traded flat, saying “a slight drop of -0.1% could keep it bottoming out at $4 per pound.”

Also in the United States, President Joe Biden is set to submit a budget to Congress, which Bloomberg announced would include a minimum personal tax rate of 25%, which would apply to the wealthiest 0.01% of the population.

“In this way, the Trump-era tax cuts will be reversed. We are also proposing measures such as increasing the tax rate on businesses from the current 21% to 28%,” commented the expert.

Considering that Congress is largely made up of opposition representatives, it is expected that the project is unlikely to be approved.

Source: Biobiochile

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