Lemanik

04-12-2017

Dollar rises as US Senate passes tax bill, pound awaits May-Juncker meeting

The Senate’s approval moves Republicans and President Donald Trump a big step closer to their goal of slashing taxes in what would be the largest change to U.S. tax laws since the 1980s. The dollar has drawn support on expectations that tax cuts for corporations and the wealthy would stimulate the U.S. economy, and also drive Treasury yields higher, as the government becomes more dependent on debt due to reduced tax income. REUTERS