· The U.S. dollar edged higher against a basket of major currencies on Thursday, rebounding from a more than three-week low in the previous session, after the U.S. House of Representatives passed their version of the tax overhaul bill.

The dollar index, which measures the greenback against six rival currencies, was up 0.13 percent to 93.933.

The dollar index, which hit 93.813 on Wednesday, its lowest since Oct. 20, was also boosted by a general improvement in risk appetite across financial markets.

The euro was 0.23 percent lower at $1.1764.

· Republican U.S. lawmakers on Thursday took an important step toward the biggest tax code overhaul since the 1980s as the House of Representatives approved a broad package of tax cuts sought by President Donald Trump.

The tax debate now moves to the U.S. Senate, where that chamber’s separate plan has already encountered resistance from some Republicans. No decisive Senate action is expected until after next week’s Thanksgiving holiday.

Senate Republican tax writers made the risky decision to tie their plan to a repeal of the requirement for people to get healthcare insurance under former President Barack Obama’s Affordable Care Act. That exposed the tax initiative to the same political forces that wrecked Republicans’ anti-Obamacare push earlier this year.

The House bill, which is estimated to increase the federal deficit by nearly $1.5 trillion over 10 years, would consolidate individual and family tax brackets to four from seven and reduce the corporate tax rate from 35 percent to 20 percent.

It also would scale back or end some popular tax deductions, including one for state and local income taxes, while preserving a capped deduction for property tax payments.

The Senate Finance Committee was voting on amendments to the Senate Republican tax bill on Thursday as congressional leaders race toward an informal end-of-year deadline for the tax plan.

Senate Democratic leader Chuck Schumer warned Republicans that by increasing the federal deficit, the tax bill would imperil other important priorities like military spending.

“Any defense hawk should be wary of this bill,” he said.

· Fed's Kaplan: falling unemployment may trigger rate hikes

Dallas Federal Reserve Bank President Robert Kaplan on Thursday repeated that he is “very open-minded and actively thinking about” a possible interest-rate hike at the U.S. central bank’s next policy meeting.

Still, his comments on Thursday suggest a growing unease that the Fed could overheat the economy if it does not respond to falling unemployment with rate hikes.

Unemployment, now at 4.1 percent, is expected to fall further in a “deviation” from the Fed’s full employment goal, he said.

· Mester: Fed forecast can't change before details of final tax bill known

Cleveland Federal Reserve Bank president Loretta Mester said the Fed should not begin changing its forecasts for the economy until a final tax bill emerges from Capitol Hill.

Policymakers have in recent weeks said some tax reform ideas have the potential to boost economic growth and productivity, while others could stoke inflation and prompt higher interest rates, and the economic impact will not become clear until a final bill is approved.

· Fed's Williams calls for global rethink of monetary policy

Global central bankers should take this moment of “relative economic calm” to rethink their approach to monetary policy, San Francisco Fed President John Williams said Thursday, warning that to fight the next recession, as with the last, they would need to do more than just cut interest rates.

· Yellen to testify on U.S. economy on November 29

Federal Reserve Chair Janet Yellen will testify on the economic outlook before the congressional Joint Economic Committee on Nov. 29, the committee said on Thursday.

· Corporate bonds may make up a larger share of the European Central Bank’s asset purchase program from January when it will halve the size of the scheme to 30 billion euros ($35.3 billion) per month, ECB governing council member Ewald Nowotny said on Thursday.

That could begin in January, but “the decision will depend on market conditions,” Nowotny added.

· Oil prices ended lower again on Thursday on increased concerns about growth in U.S. production and inventories, despite expectations that major world producers will extend a supply-cut deal later this month.

Brent crude futures LCOc1 settled 51 cents, or 0.8 percent, lower at $61.36 per barrel, running its streak of losses to five straight days. U.S. light crude CLc1 fell for a fourth consecutive session, ending down 19 cents, or 0.3 percent, at $55.14 a barrel.

Reference: Reuters, CNBC