# Dollar on back foot ahead of Senate tax-cut bill

> The dollar fell to its lowest against the yen since October 31 and was weak against a basket of major currencies. The move came ahead of the expected release of a Senate Republican tax-cut bill that differed from the House version.

- Date: 2017-11-09 · published 2017-11-09T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/68208-dollar-on-back-foot-ahead-of-senate-tax-cut-bill
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

The political uncertainty over tax reform is weighing on the dollar, which can support dollar-denominated commodity prices. The effect on feed markets is limited, since the driver is domestic fiscal politics rather than supply or demand.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-01-29 | [G10 FX Week Ahead: State of the dollar \| ING THINK](https://feedsoft.ai/events/67209-g10-fx-week-ahead-state-of-the-dollar-ing-think.md) | +0.4% | +1.0% |
| DXY | 2020-03-02 | [Dollar takes a back seat as markets bet on Fed rate cuts - The HinduBusinessLine](https://feedsoft.ai/events/6185-dollar-takes-a-back-seat-as-markets-bet-on-fed-rate-cuts-the-hindubusinessline.md) | -0.8% | +4.0% |
| DXY | 2025-08-06 | [Dollar falls as traders bet on more rate cuts](https://feedsoft.ai/events/23519-dollar-falls-as-traders-bet-on-more-rate-cuts.md) | -0.5% | -0.3% |
| DXY | 2019-06-20 | [Dollar extends losses on Fed rate cut bets](https://feedsoft.ai/events/7441-dollar-extends-losses-on-fed-rate-cut-bets.md) | -1.1% | -0.8% |
| DXY | 2025-11-25 | [US dollar slumps as data backs Fed rate cut view; traders on yen alert \| Reuters](https://feedsoft.ai/events/21876-us-dollar-slumps-as-data-backs-fed-rate-cut-view-traders-on-yen-alert-reuters.md) | -0.6% | -1.8% |

## Sources

- reuters.com: https://www.reuters.com/article/us-global-forex/dollar-hits-nine-day-low-vs-yen-as-rally-runs-out-of-steam-idUSKBN1D906H/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.