Dollar went lower versus the yen due to uncertainties on U.S. tax cut’s fate

The U.S. dollar edged down against its Japanese counterpart on early Tuesday, hovering close to its lowest level since mid-September. Investors are currently keeping a closer look on votes regarding the U.S. tax reform.

The greenback eased more than 0.1 percent closing at 111.00 yen on track to a two-month low it touched yesterday. Concerns that the implementation of U.S. tax cuts might be delayed negatively influenced the greenback last week.

Meanwhile, the dollar index, fell by 0.1 percent towards 92.841.

As to other currencies, the euro rose more than 0.1 percent at $1.1907. The common currency touched a two-month high last session when it closed at $1.1961.

Gold futures were supported by a weaker dollar

The price of gold is currently close to hitting its best level since October 16 on Tuesday due to a sluggish dollar.

U.S. gold futures for December delivery remained almost flat at $1,294.80 per ounce. Spot gold added more than 0.1 percent closing at $1,295.31 per ounce after hitting a six-week high of $1,299.13 per ounce yesterday.

As to other precious metals, platinum rose by 0.1 percent towards $948.10 an ounce; palladium edged lower by 0.2 percent at $1,004.50. Spot silver added 0.1 percent closing at $17.04 per ounce.

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