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  • Home>UPDATE: Dollar on track to break weekly win streak as tax-reform concerns persist

    UPDATE: Dollar on track to break weekly win streak as tax-reform concerns persist

    UPDATE: Dollar on track to break weekly win streak as tax-reform concerns persist

    11/11/2017

    By Carla Mozee, MarketWatch , Anneken Tappe

    Consumer-sentiment disappointment weighs on dollar index

    The U.S. dollar was weaker against key rivals on Friday, on track to break three-week winning streak due to concerns that Washington will have a difficult time hammering out a tax bill that can be made into law.

    Where are currencies trading?

    The ICE U.S. Dollar Index , which measures the buck against six rivals, slipped 0.1% to 94.386. That put it on course to fall 0.6% for the week, and FactSet data showed that would be the first weekly decline in four. The broader WSJ U.S. Dollar Index stood at 87.63, down 0.4% on the week.

    The euro bought $1.1664, up from $1.1640 late Thursday in New York. The shared currency was looking at a weekly rise of 0.5%.

    Read:Euro bulls try for comeback on U.S. tax-cut worries (http://www.marketwatch.com/story/euro-bulls-try-for-comeback-on-us-tax-cut-worries-2017-11-09)

    The British pound fetched $1.3202, up from $1.3137, after data showed Britain's industrial output (http://www.marketwatch.com/story/uk-construction-output-has-worst-fall-in-5-years-2017-11-10) expanded by a faster-than-expected rate of 2.5% in September on a year-over-year basis. This marked the first break above $1.32 for the pound in six days. Meanwhile, the EU's chief Brexit negotiator reportedly said the U.K. needs to settle on its so-called divorce bill in the next two weeks in order for the U.K. and the EU to begin discussing trade terms. This week, sterling gained 1% against the dollar.