Analyst: UK's fiscal turmoil boosts dollar rise

According to Jinshi reports, concerns about the UK economy have resurfaced, dragging down risk sentiment and boosting the current gains of the dollar, after reports suggested that the UK government would abandon plans to raise income tax in the budget proposal on November 26. Analysts at Monex Europe stated that this news has created a risk-averse sentiment in the market, providing upward support for the dollar. The dollar has also received a boost from recent comments by Federal Reserve officials, which have cast doubt on the prospects of another rate cut in December.