News that the US Senate had finally passed....>

FOREX: News that the US Senate had finally passed the Republican tax bill sent

the US dollar higher against its peers during the Asia-Pacific session.

Dollar-yen gapped higher from New York close on Friday and then rose from

Y112.44 to Y112.98. Failure to break through the Y113-handle then saw the dollar

retreat to the mid-Y112.60's, the move was further encouraged by weaker US rate

yields and a softer Nikkei. Euro-dollar dropped from $1.1888 to $1.1851, the

pair finding support at Friday's base. Aussie trekked lower from $0.7618 to

$0.7587, but recovered back to $0.7607 on cross related buying and firmer

commodity futures. Kiwi-dollar followed its Tasman neighbour and eased from

0.6889 to $0.6853. Meanwhile, cable dropped from $1.3490 to $1.3432 on the

stronger dollar story but recovered to $1.3514 after the UK Times cited a senior

EU official as saying, a Brexit deal is 90% there.