(New York) The British tax cut policy took a sharp turn, the pound recovered more than a week of losses, and the dollar weakened | Anue Juheng-Forex

As the British government announced the withdrawal of tax cuts for high-income earners,GBPAgainst the dollar on Monday (3rd), it continued to rise, recovering losses since the policy announcement more than a week ago. As risk aversion cools,US dollar indexgo soft,AUD、source of stringThe jacket bounces up.

ICE, which tracks the dollar once morest six major currencies, is late in New York US dollar index (DXY) fell 0.43% to 111.64, almost giving back its gains since Sept. 23.

In the face of pressure from all parties, the British government announced on Monday that it had withdrawn its plan to change the top income tax rate.GBPOn the strength, Chancellor of the Exchequer Kwasi Kwarteng also said details would be announced soon on how to reduce public debt as a share of gross domestic product (GDP) in the medium term.

Before the deadline,GBPIt rose 1.42% to $1.1319, its highest since Sept. 22, returning to levels last seen the day before the tax cuts were announced.

Quarton announced a massive tax cut plan on the 23rd of last month, dragging down theGBP, British debt plummeted. Amo Sahota, director of Klarity FX, said that as the UK government tries to reverse some of the tax cuts,GBPis getting a boost, but the big themes around the general economic situation haven’t changed.

JPYAgainst the U.S. dollar, it fell below the 145 mark, the first time since September 22, and fell 0.12% to 144.55 at the time of writing. JPY。

JPYThe devaluation came as Japanese Finance Minister Toshi Suzuki reiterated on Monday that he was prepared to take decisive measures on the foreign exchange market if necessary, hinting that another currency intervention may be possible.

In other currencies, offshoreRMBUp 0.5% once morest the dollar to 7.102 RMB; Expectations of the central bank raising interest rates this week, drivingAUDandsource of stringstrong bomb,AUDIt rose 1.7% to $0.6512 once morest the dollar,source of stringIt rose 2.3% to $0.5721 once morest the dollar.

EURIt edged higher, up 0.23% to $0.9823 once morest the greenback. However, earlier data showed thatEURManufacturing fell further in September and a report that the Organization of the Petroleum Exporting Countries and other producers (OPEC+) are discussing the possibility of cutting output by at least 1 million barrelsEURUnder pressure.

As of Tuesday (4th) Taiwan time regarding 6:00 Price:

• US dollar indexReported at 111.6629. -0.4934%
• EURExchange rate once morest the US dollar (EUR/USD) at 1 EURAgainst $0.9823. +0.2347%
• GBPExchange rate once morest the US dollar (GBP/USD) at 1 GBPAgainst $1.1318. +1.4158%
• AUDExchange rate once morest the US dollar (AUD/USD) at 1 AUDAgainst 0.6512 yuan. +1.7182%
• dollar once morestCanadian Dollars (USD/CAD) exchange rate at 1.3622 US dollar Canadian Dollars。-1.4755%
• dollar once morestJPY (USD/JPY) exchange rate at 144.55 USD JPY。-0.1244%

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