US dollar heads lower on talk that three GOP Senators won’t support tax bill

Now the trouble begins

CNBC says at least three Senators won’t support a plan to cut taxes. Unless Trump can get some Democrats on board — and that’s certainly possible — then it’s going to be tough getting to 50 votes.

The US dollar is down 20-30 pips across the board on the headlines.


The report says Bob Corker, John McCain and Rand Paul might not support the tax overhaul. If Roy Moore wins an election in December, he could also oppose the tax cut.

Meanwhile Utah Senator (and Trump critic) Jeff Flake said he won’t see re-election in 2018. That’s a seat Democrats will target after he won by just 3 percentage points in 2012.

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