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US dollar trades mixed against major currencies

US dollar trades mixed against major currencies

New York: The US dollar traded mixed against other major currencies as Wall Street awaited a Senate vote on tax reform.

In late New York trading on Thursday, the euro rose to $1.1903 from $1.1862 in the previous session, and the British pound climbed to $1.3526 from $1.3422 in the previous session, Xinhua news agency reported.

The Australian dollar lost to $0.7565 from $0.7577.

The US dollar bought 112.46 Japanese yen, higher than 111.83 yen of the previous session. The US dollar fell to 0.9837 Swiss franc from 0.9839 Swiss franc, and it moved up to 1.2903 Canadian dollars from 1.2853 Canadian dollars.

The dollar index, which measures the greenback against six major peers, decreased 0.11 per cent at 93.065 in late trading.

The US Senate Budget Committee on Tuesday approved the Republican tax bill to overhaul the US tax code, sending it to the Senate floor for a vote.

Analysts believed that the possibility of the Senate passing a bill aimed at overhauling the US tax code increased.

On the economic front, US personal income in October increased $65.1 billion, or 0.4 per cent, beating market consensus, according to the Commerce Department on Thursday.

In October, disposable personal income (DPI) increased $66.1 billion, or 0.5 per cent, and personal consumption expenditures (PCE) increased $34.4 billion, or 0.3 per cent.

Meanwhile, in the week ending November 25, the advance figure for seasonally adjusted initial claims was 238,000, a decrease of 2,000 from the previous week’s revised level, said the US Labor Department on Thursday.

IANS