The greenback had a solid day, as the US......>

FOREX: The greenback had a solid day, as the US House cleared the way for the

republican tax bill, talk of the Fed nominees and aided by dovish tone from the

ECB and concerns over Catalan adding pressure on the euro.

Dovish RBA Debelle remarks that warned sizable spare capacity in labour market

and inflation may remain subdued, took the aussie back under $0.7700. Second

wave sales moved through the 200-dma to 3-mth lows of $0.7678 in the middle of

the European morning. The pair recovered back over $0.7710 into NY, before broad

based dollar demand pushed the rate to intraday lows of $0.7674.

Slippage back under $1.1800 to extended pullback lows of $1.1758

after the ECB reduced its pace of asset purchases to E30bn a month from Jan-Sep

2018. This combined with US Tax reform looking good witnessed the rate drop to

$1.1656.

The pair was led by positive dollar news, XAU sinking and rising US Tsys yields

printing session highs of Y114.04 before retreating to pullback lows of Y113.70.

Towards the NY close saw another bout of dollar demand with the rate grinding

back towards the intra-day high.