The European morning witnessed pressure on....>

FOREX: The European morning witnessed pressure on the Yen, as well as dollar

demand ahead of senate tax vote later in the session. As NY opened and dragged

on we continued to see the same theme, just ahead of the European close ABC

reported that Flynn had plead guilty to lying to the FBI and he will testify

against President Trump over the Russian probe. The dollar and the Dow crashed

and gold spiked $15 oz. 

The dollar did pare most of its losses, as it looked like the Republicans had

enough votes to pass the tax bill.

-Aussie: Rate tracked strong Eur/Usd gains, moved through the Asia high to

$0.7585. Further demand extend to $0.7597 hourly resistance located at $0.7600

countered in late European morning pushing the rate to pullback lows of $0.7565.

-The Flynn reports pushed Aussie to highs of $0.7639 before tax reform talk

pushed the rate back towards $0.7610. 

-Yen: The Flynn news saw the rate crash from Y112.75 to session lows of Y111.41

in a risk off move. The pair recovered over tax reform comments the rate grinded

to Y112.30.