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US Pres. Trump: First $12K of income earned by a single individual will be tax-free

US President Donald Trump continues to give his remarks on tax reform, with key quotes found below:

  • Hurricanes expected to weigh down US economic growth this quarter
  • The first $12K of income earned by a single individual will be tax-free
  • A married couple won't pay any taxes on income earned up to $24K
  • There will be 3 tax rates, 12%, 25% and 35% 
  • We'll make sure benefits are focused on middle-class
  • Tax reform will protect low-income and middle-income households

EUR/USD: Trump's tax reforms not a market impact so far ... but ... let's wait and see ...

Currently, EUR/USD is trading at 1.1749, down -0.36% on the day, having posted a daily high at 1.1796 and low at 1.1717. We were seeing some downside
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USD/JPY: Dip-buyers re-emerge sub 112.50, Trump's tax speech non-event

USD/JPY is largely unchanged in response to Trump's remarks as he lays out his government's tax cut plan, with the exchange rate sitting around the 11
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