Expect tax talk to be a driver of the US dollar in the week ahead

Mnuchin and Cohn are on the offensive

Politco reports that Treasury Secretary Steven Mnuchin and top Trump economic adviser Gary Cohn will meet with Senate Majority Leader Mitch McConnell and members of the Senate Budget Committee tomorrow. The aim is to hatch a plan to get tax reform (or more likely, a tax cut) through Congress.

Year-end is a hard deadline for many Republicans and the week ahead will give us a sense of how likely, or unlikely, it is.

I'd wager whatever happens with tax reform is worth 500-1000 pips in USD/JPY in either direction.