EURUSD Plunged as ECB embarked Dovish Tapering. US Passed Budget, Tax Reform Next

What dominated market attention was ECB’s tapering announcement and US’ House approval of the US$ 4 trillion budget plan for fiscal 2018. Dovish sentiment of the former and indication of the latter as a step closer to the tax reform plan together resulted in an almost -1% decline in EURUSD. The greenback indeed rose across the board, lifting the DXY index to +0.96% higher on Thursday. Stock market strengthened.

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