USD Rallies as Market Anticipates Trump’s Tax Policies

The USD traded within its session highs following Trump’s statement that his administration will soon be releasing updates with regards to its tax policies in the coming weeks, inducing some positivity in the market and leading to speculations that the US economy might benefit from fiscal stimulus and could also lead to an reignition of the Trump trade. The USD/JPY pair was able to maintain its place in its session highs and has created a ripple effect among other currency pairs after Trump’s officials stated that the currency devaluation issue will not be among the priorities listed in the impending meeting of Trump and Japanese PM Shinzo Abe.