Analyst: UK Fiscal Turmoil Boosts US Dollar
According to ChainCatcher, citing Jinse Finance, renewed concerns over UK finances are weighing on risk sentiment and boosting the current rise of the US dollar, after reports that the UK government will abandon plans to raise income tax in the November 26 budget. Analysts at Monex Europe stated that this news has injected a risk-off sentiment into the market, providing upward support for the US dollar. The dollar has also been helped by recent comments from Federal Reserve officials, which have cast doubt on the prospect of another rate cut in December.
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