Republican tax cuts won’t be retroactive — report

Dow Jones report

That’s a US dollar negative. There was lots of talk the tax cut would apply from the start of the year, which could have meant some big tax refunds for many people that they would have been spending early in the year.

A tax cut would still be good news for the US dollar, but at retroactive cut would virtually guarantee a Fed hike in December (and probably another one in March).

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