Like yesterday when the big story was the jump in the USD ahead of Yellen’s (rather hawkish) speech, so today the greenback’s levitation has continued, this time propelled by today’s unveiling of Trump’s tax plan.
On the eve of its unveiling, Trump said lawmakers should expect a “very, very powerful document” that would cut taxes “tremendously” for the middle class. If passed, the plan would be Trump’s first significant legislative win since taking office in January. ”The idea that Trump could be reaching across the aisle, talking about tax cuts to middle and low income households, if it comes to pass, we are talking a pretty material fiscal boost to the U.S. economy. This sort of easy fiscal policy is why the markets are reacting the way they have,” said Mark Dowding, co-head of investment grade at BlueBay Asset Management.
…also:
Premier Warns “Quebec Is Attacked, Quebec Will Resist” As US Slaps Massive Tariff On Bombardier Jets
