Market News
US dollar gains, sentiment still frayed; euro falters - REUTERS
Summary
- US house passes Trump tax bill
- Trump bill could add $3.8 trillion to debt over next decade
- Euro drops on soft data
- US jobless claims suggest stable labor market so far
- Bitcoin hits record high
NEW YORK, May 22 (Reuters) - The U.S. dollar advanced on Thursday after three days of losses, lifted partly by the passage of President Donald Trump's bill for huge tax and spending cuts by the House of Representatives, as the euro stumbled following data painting a bleak economic picture for the euro zone.
Bitcoin , meanwhile, pushed to a new all-time high, as investors sought out alternatives to U.S. assets.
Trump's sweeping tax bill has been the market's focus and its passage has been met partly with relief and partly with caution. The bill is set to add to the country's ballooning debt pile. The market is now looking at weeks of debate on it in the Republican-led Senate.
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