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Stronger US Dollar After Positive US Employment Data

Trade Magnates - US dollar continued its strength against major currencies on Wednesday after the release of US employment data that the US private sector added 190k jobs last month.

The dollar gained started to gain strength at the start of this week trading session after the Senate passed their tax version over the weekend. Republicans are expected to deliver their final tax bill before the end of this.

The U.S. dollar index was up at 93.54, EUR/USD fell to 1.1792, while GBP/USD declined to 1.3380 amid ongoing Brexit concerns after the UK and the European Union failed to reach an agreement to move to the next stage of negotiations. The Yen remained stronger with USD/JPY at 112.25, while USD/CHF increased to 0.9897.

With the US economy strengthening, investors are expecting a rate hike by the Federal Reserve anytime soon.

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