USDJPY

December 18,

U.S. tax reform bill, expectation rises for the establishment within the year.

The dollar / yen on 15th is steady from expectations for the implementation of the US tax reform. At one point there was a scene of falling to the 112.00 yen level, but in the NY time it picked up to the 112 yen level. There was also a scene where it temporarily fell to the 112.00 yen level, but in the NY time it recovered to the latter half of the 112 yen range. The U.S. tax reform bill is expected to be voted in both the upper and lower houses this week, with the final draft of the corporate tax reduction (from 35% to 21%) as a pillar. The possibility of establishment within the year is increasing, and the US stock (index) is updating the historical highest value in anticipation of expanding profit ratio and buying stock. Today the dollar is likely to remain strong.