According to an administration official quoted by Bloomberg, U.S. President Donald Trump’s tax plan next week likely won’t include a border-adjusted tax that House Speaker Paul Ryan has proposed.
EUR/USD rallied up after the headlines crossed the wires, to post a fresh session high around 1.0730.
Key quotes (via Bloomberg):
- The White House is still debating the idea, according to the official. Trump will release a tax plan for individuals and businesses next week that may not include every component that will go into final legislation, according to a different senior White House official.
- The plan -- which Trump said will be released Wednesday -- will contain the administration’s priorities, said one of the officials. Both asked not to be identified because discussions of the plan are private.