The dollar hits two-week high on tax-reform hopes, as world shares rebound
London — The dollar rose to its highest level in two weeks on Thursday over optimism the US would successfully push through tax reforms, while world shares rebounded after two straight days of losses. The US currency slipped against the safe-haven Japanese yen on Wednesday after US President Donald Trump said he would recognise Jerusalem as the capital of Israel — a move that imperiled Middle East peace efforts and provoked widespread condemnation. But amid a broader climb in global stocks on Thursday, the greenback rose 0.3% against the yen to trade at ¥112.60, and hit a two-week high against a basket of peers. The MSCI World Index, which tracks shares in 47 countries, was up 0.1%. Underpinning some of the dollar’s gains analysts said was some cautious optimism on progress over US tax reforms. US Senate Republicans agreed to talks with the House of Representatives on sweeping tax legislation on Wednesday, amid early signs that lawmakers could bridge their differences and agree on a...
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