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Stiglitz - US tax bill the worst I have every seen

Nobel prize-winning economist Joseph Stiglitz, while speaking to Bloomberg TV said, the US tax bill is the worst he has ever seen. 

Key quotes

  • Tax bill crates enormous distortions and has a lot of strange provisions. 
  • Trump has learned that weak USD is good for exports, but does not control the exchange rate. 
  • The USD may strengthen if the tax bill is passed. 
  • Bitcoin is not open and transparent. 
  • Trump will be the biggest risk for 2018. 

 

NZD/USD jumps to near five week tops, around mid-0.6900s

   •  Moves above 50-DMA for the first time since Oct. 19.     •  Softer USD/bond yields help build on overnight strong gains.    •  US PPI print to
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EUR/JPY set to retest 134.50/58 - Commerzbank

According to Karen Jones, Analyst at Commerzbank, the EUR/JPY cross is bid in its range and looks set to retest the recent high 134.50/58. Key quotes
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