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With Washington entrenched in a shutdown, expect to the see further erosion in the value of the dollar.

The currency has not rallied despite Donald Trump's new tax plan. The dollar has dropped to more than three month lows against a basket of major currencies. Romeo Ranoco / Reuters

If Trump and the Republicans can get their tax bill through Congress, the dollar may gain. 

The Dubai Gold & Commodities Exchange (DGCX), the largest and most diversified derivatives bourse in the Middle East, has been recognised as ‘Exchange of the Year’ at the FOW Global Investor MENA Awards 2017.

Encouraged by strong investor appetite and robust trading performance on its existing Indian Single Stock Futures (SSF), the Dubai Gold & Commodities Exchange (DGCX), having received regulatory approval, today announced the launch of an additional 44 blue-chip Indian SSF, further expanding its Equities asset class vertical.  With the listing of additional Indian SSF, local and regional traders can now participate in the price performance of numerous stocks that fall within the major indices in India. Additional SSFs will be listed for trading on Exchange from December 8th, 2017.

Dollar long positions eroded going into this past weekend on mixed signals from the US congress and their proposed tax reform plans. Both the house and the senate unveiled their respective tax bills, and the disparity in the timing of delivering the long-awaited plan highlights the divide in Washington and the seemingly long and arduous path of negotiations ahead.

The Dubai Gold & Commodities Exchange (DGCX) witnessed increased trading volumes in its G6 currencies and Indian SSF as traders sought protection from increasingly erratic sentiment.

Dollar longs thrived through the latter half of October, with the Dollar Index hitting three-month highs at 95.06.

At the start of October, we noted the positive shift in dollar sentiment going into the fourth quarter and that momentum will continue to carry into November.