XE Market Analysis: Asia – Nov 09, 2017

The dollar was broadly lower in N.Y. on Thursday, hit by risk-off conditions which saw Wall Street tumble. Differing versions of the U.S. House and Senate tax reform bills, with the latter delaying corporate tax cuts until 2019, were behind the sell-off, leaving market expectations for a bill passage anytime soon heavily reduced. EUR-USD bottomed at 1.1600 early on, before rallying to highs of 1.1654. Risk sensitive USD-JPY fell to 113.10 lows from highs near 113.70, while cable topped 1.3165. USD-CAD fell to more than two-week lows of 1.2668, with higher oil prices weighing.