The euro takes a break in Asia Monday after rallying to a 2-month high against the US dollar last Friday. The strength was driven by strong German sentiment and signs of breaking the political deadlock. The greenback is also moving sideways as the market awaits Senator’s vote on the tax reform plan. In the commodity sector crude oil prices steadies after jumping to a fresh 2-year high last Friday, on speculations that OPEC/non-OPEC would affirm extension of the output cut plan at the November 30 meeting. Despite recovery from the low made on October 31, the WTI-Brent spread has stayed at the widest level in more than 2 months.
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OPEC/Non-OPEC Meeting, Senate’s Tax Vote in Focus
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