The Senate passed a budget proposal that allowed Republicans to move closer to eventually passing tax reform. The measure was passed with a vote of 51-49.
The U.S. currency rose against the Japanese yen following those headlines to fetch 113.20 — above levels around the 112 handle seen most of this week. The dollar index, which tracks the greenback against a basket of six currencies, edged up to 93.472 at 2:46 p.m. HK/SIN.
Yields on the 10-year U.S. Treasury note inched higher to 2.3574 percent after falling to 2.3178 percent on Thursday.
“Global markets have flipped from a state of agony to one of ecstasy as the path has been cleared for the long-awaited U.S. tax reform to move forward,” Stephen Innes, APAC head of trading OANDA, said in a note.
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