Forex and Gold Daily Report for December 18, 2012

Hopes the White House and congressional Republicans are coming closer to steering the U.S. economy away from a fiscal cliff sent the greenback inching up against the world’s major currencies on Monday albeit in cautious and often choppy trading.

gold saw gains as the dollar fell on hope a budgetary impasse may end in the U.S.  The White House and congressional Republicans have yet to agree on a way to avoid the fiscal cliff, a combination of expiring tax breaks and inbound spending cuts taking effect early next year. Sticking points involve a White House proposal to let tax breaks expire on the top 2 percent of U.S. earners.

 

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