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The Senate is expected to vote at 4 p.m. Eastern today to acquit President Trump in his impeachment trial. There are news wires now crossing that Senator Mitt Romney of Utah is planning to vote to convict Mr. Trump of abuse of power, and as the New York Times points out, this will be the first Republican to support removing Mr. Trump from office.

Key notes

  • Romney will vote to convict Trump of abuse of power, the first Republican to support removing the president.  
  • House Democrats are ‘likely’ to subpoena John Bolton after the impeachment trial ends.
  • Doug Jones, who was seen as a possible Democratic defector, ‘reluctantly’ decides to vote to convict Trump.
  • The votes are expected about 4 p.m.
  • Trump avoided impeachment in his State of the Union address, but he may have his say after the votes.
  • ‘It’s my hope we’ve finally found bottom.’ Senators lament a broken institution.

FX implications

Markets, while tuned in, are convinced that this is more drama than a worthy cue for call to action. Considering Romney is the only Republican in the Senate to publicly say he would side with Democrats attempting to remove Trump from office, for the meantime, it has been brushed aside. The yen and dollar crosses would otherwise be most affected.