The Senate’s approval on Saturday of the biggest change in US tax code since the 1980s has received widespread investor support amid expectations that the tax cuts for businesses would invigorate the economy. Talks should likely begin this week between the Senate and the House to reconcile their respective versions of the legislation. USDJPY is climbing in Monday Asian trade to currently hover around the 113.000-mark.
The pair was knocked down a peg on Friday following the Flynn testimony news, sliding as low as 111.400. Documents made public as part of Flynn’s plea agreement revealed that the former NSA’s discussions with then Russian ambassador, Sergey Kislyak, were part of a coordinated effort by Donald Trump’s presidential campaign to create foreign policy stance even before his elevation to the Oval Office.