The House vote will take place around 7 pm ET
The markets' focus today is on the upcoming vote on the Affordable Care Act (ACA) repeal bill in US congress.
In that regard, Credit Agricole CIB Research's central case is that the bill will pass today, and such an outcome could be positive for USD against safe haven G10 currencies like JPY, EUR and CHF.
On the other hand, CACIB notes that a defeat for the bill today could indeed see the latest sell off in US stocks and USD continuing.
"With some negatives in the price already, however, we doubt that the USD-negative impact would be sustained for long,however, especially against risk-correlated and commodity currencies. Where we see scope for more protracted USD underperformance would be against safe haven currencies like JPY, EUR and CHF and assets like gold," CACIB argues.
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