The House Rules Committee voted on Monday evening to hold the House vote for the U.S tax bill on Tuesday afternoon. What to expect as it happens is discussed in the US Tax Bill Vote US Dollar Impact Analysis.
19 December, HotForex – Narrow ranges have been prevailing, and more of the same looks likely, though there could be some chop around data releases and news developments, with moves prone to be exaggerated by thin market conditions. All the dollar pairings we track are showing less than a 0.2% range so far today. USDJPY’s range has been centring around 112.50, while EURUSD has managed to drift up from around 1.1775-80 toward the 1.1800 level.
Cable is also moderately higher, though, like EURUSD, remains comfortably below its high from yesterday. Focus remains on the U.S. tax overhaul bill, with the House expected to vote on it today and the Senate tomorrow, with indications suggesting that a successful passage is on. The December German Ifo business climate survey is also due later.
US Tax Bill Vote US Dollar Impact Analysis
Tax Bill Vote Expected Today – EURUSD has recouped back above 1.1800, though the market looks to be lacking the muster for a challenge on yesterday’s high at 1.1834 ahead of data and the votes on the tax reform bill.
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