US dollar rebounds
Stock markets are red hot and that's given a lift to Treasury yields and USD/JPY. The pair is back above 112.00 after falling as low as 111.74.
The US dollar has had mixed emotions about the tax bill. One line of thinking is that it's negative because it won't offer as much to the real economy as was anticipated a few months ago while boosting the deficit. Another line of thinking is that what's good for corporate America is good for economy.
In any case, the dollar has caught a broader bid.
