Overnight, both the US House and Senate approved the biggest US tax overhaul in 30 years, but the House must hold another vote today. We still expect the legislation to pass with no issues. During the Asian morning Thursday, the BoJ decides on policy. Expectations are for no policy action.
House says “yes”, Senate says “yes”, But House Must Vote Again
The dollar traded mixed versus the other G10 currencies yesterday. The biggest winner was the euro, which strengthened perhaps due to the rise in Eurozone’s bond yields, while the currency that underperformed the most was the New Zealand dollar. NZD slid after the Global Dairy Trade (GDT) index fell 3.9%, while the nation’s trade data showed a much-larger-than-expected deficit.
Read the full financial markets daily report on JFD Research.