The market’s early verdict is in: The US dollar doesn’t like the tax plan

US dollar to the lows of the day

I don’t think it’s the details, because there is some good news. I think it’s the likelihood of it getting passed any time soon that the market doesn’t like.

The problem is that all the good news, like a 20% corporate tax rate and a doubling of the standard deduction, was all leaked. While the bad news like a whole bunch of tax credits being removed, is leaking out now.

More details on the plan are here.

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