Global Themes

Unhealthy response to Trump's Obamacare reforms

  • US dollar weakens as Republicans fail to gain sufficient support for healthcare repeal bill
  • Theresa May visits Scotland before triggering Article 50 on Wednesday

USD

US dollar weakens as Republicans fail to gain sufficient support for healthcare repeal bill
The US dollar index has fallen to a two month low as markets grow concerned that this could be a sign of further challenges to come.

This bill which is a proposed replacement for Obamacare has been met with stiff opposition and with Republicans only able to lose between 21 and 23 votes, the House has indefinitely pulled the proposal. This was seen as the first of the major economic reforms for the Trump Administration’s fiscal agenda. It’s failure has caused investors to become nervous and as a result both the US dollar and S&P 500 have come under pressure as post-election trades are unwound.

May in Scotland

Theresa May visits Scotland before triggering Article 50 on Wednesday
May will hold talks with Nicola Sturgeon and deliver a speech in the hope of appealing to Scottish voters before the UK formally notifies the EU of it’s intention to leave the union this week.

On Thursday the Prime Minister will publish plans of for the Great Repeal Bill which is intended to convert EU law into British law. This bill will include powers for ministers to change regulations as they are converted into U.K. statues creating the infrastructure to allow the exit process to begin


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