President of the United States Donald Trump is a step from his first legislative victory since he entered the White House, if the House of Representatives passes the largest tax adjustment in US history today. The Senate passed the bill after voting in the early hours of the morning.
Trump will hold a press conference today if the law is passed. The USD rose slightly after the news and the Dollar index is still trading around 93, while the Dollar continued to rise against the Japanese Yen for a second consecutive day to reach its highest level since December 13 at 113.16.
Markets are awaiting tomorrow's release by the Bank of Japan, the last meeting of major central banks this year, and whether the Bank of Japan will join the other banks in easing monetary stimulus after Kuroda's latest comments, which have raised speculation about stimulus taper. BoJ is widely expected to keep its policy unchanged and to leave adjustments for the new year, depending on the economic situation and especially inflation.
