The dollar faced broad selling pressure on Thursday, driven by an increase in global risk appetite. Investors moved away from safe-haven assets like the dollar and into riskier investments, impacting the currency’s value.

Factors Contributing to Dollar Weakness

• Increased Risk Appetite: Positive sentiment in global markets reduced demand for safe-haven currencies.
• Economic Data: Recent economic data releases have influenced investor sentiment.
• Tax Reform Progress: Developments in U.S. tax reform continue to be closely monitored by the market.

Market Outlook

Analysts suggest that the dollar’s near-term performance will depend on upcoming economic data and further developments regarding U.S. fiscal policy. Investors are advised to monitor these factors closely for potential trading opportunities.