Forex Forecast 28th November, 2017

The S. dollar recovered some of the losses suffered in the past few days on Tuesday, but kept trading close to the lowest levels in two months against the other major currencies. The American currency has been performing on low levels for more than a week now, as uncertainties in regards to politics and future economic policy continue to weigh over the U.S. Today, President Donald Trump was scheduled to meet the U.S. Republican Senators, to try anc convince them to pass the new tax bill proposed by his administration. The bill has already been approved by the House of Representatives; in the Senate, however, the Republicans can count on a much thinner majority. Also, Jerome Powell, possibly the future FED chairman, was scheduled to speak at a confirmation hearing. EUR/USD was trading at 1.1865, down 0.20% for the day.
The American dollar was not the only currency kept under pressure by political uncertainty today: the British Pound was also trading at its lowest levels in the last couple of days, due to worries regarding Brexit talks. Mark Carney, Governor of the Bank of England, remarked once more that there would be important risks of an economic downturn if the U.K. Should leave the European Union without a detailed, structured plan. GBP/USD was trading lower for the day, down almost half a percentage point during the early afternoon.
Meanwhile, Bitcoin keeps breaking new records. The digital currency is now closing in to the historical target of 10,000$. An incredible development, considering that, at the beginning of this year, Bitcoin was priced around 1,000$. BTC/USD was up 2.40% on a 24-hours basis, another astonishing result, and was trading around 9,960$. The 10,000$ break appears to be just a matter of time.


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