The US House of Representatives will vote today on the healthcare bill endorsed by President Trump. Financial markets are focusing on whether Trump can gather enough support to pass a bill to rollback Obamacare, one of his key campaign pledges.

Today’s vote on is seen as big test for Trump, as passage of the bill is necessary to keep the USA equity market focused on Trump’s deregulation and tax policy agenda, and boost Trump’s reputation.

The US dollar was under pressure this week on growing doubts over Trump’s ability to push through with economic and tax policies that triggered broad risk aversion.

Global equities were also hit by risk aversion this week, after Wall Street on Tuesday registered the biggest daily losses since Trump’s election.

If Trump can’t push through the bill, it would further damage stocks and the dollar, as failure will also raise the risk of Trump’s other policies, like tax cuts, being delayed.

Passage of the bill, on the other side, will see a relief rally in US equities and the US dollar.