Greenback Lacks Impetus Despite Eventual Passage of Tax Bill

The US Congress passed the tax reform bill, with 224-201 vote in the House, followed by 51-48 vote in the Senate. Hinging on the “big, beautiful tax cut for Christmas”, 10-year yields climbed further to a 3-month high, on expectations of stronger inflation outlook. 2-year yield steadied, resulting in further steepening of the yield curve. US dollar remained under pressure.

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Greenback Lacks Impetus Despite Eventual Passage of Tax Bill