The U.S. dollar fell against most major currencies Wednesday, as investors are worried about a possible delay of U.S. tax reform plans.
Media reported that Senate Republican leaders were considering a one-year delay in the implementation of a major corporate tax cut to comply with Senate rules.
Republicans in the U.S. House of Representatives last week unveiled the long-awaited bill to overhaul the U.S. tax code in decades by significantly cutting individual and corporate income taxes.
It would reduce the number of personal income tax brackets from seven to four, while keeping the top individual income tax rate at 39.6 percent. It would also cut the corporate income tax rate to 20 percent from 35 percent.
The dollar index, which measures the greenback against six major peers, ticked down 0.01 percent at 94.903 in late trading.
In late New York trading, the euro increased to 1.1592 dollars from 1.1583 dollars in the previous session, and the British pound decreased to 1.3107 dollars from 1.3155 U.S. dollars in the previous session. The Australian dollar rose to 0.7677 dollar from 0.7639 dollar.
The dollar bought 113.78 Japanese yen, lower than 113.91 yen of the previous session. The U.S. dollar rose to 1.0004 Swiss franc from 1.0002 Swiss franc, and it was down to 1.2731 Canadian dollars from 1.2786 Canadian dollars.
Media reported that Senate Republican leaders were considering a one-year delay in the implementation of a major corporate tax cut to comply with Senate rules.
Republicans in the U.S. House of Representatives last week unveiled the long-awaited bill to overhaul the U.S. tax code in decades by significantly cutting individual and corporate income taxes.
It would reduce the number of personal income tax brackets from seven to four, while keeping the top individual income tax rate at 39.6 percent. It would also cut the corporate income tax rate to 20 percent from 35 percent.
The dollar index, which measures the greenback against six major peers, ticked down 0.01 percent at 94.903 in late trading.
In late New York trading, the euro increased to 1.1592 dollars from 1.1583 dollars in the previous session, and the British pound decreased to 1.3107 dollars from 1.3155 U.S. dollars in the previous session. The Australian dollar rose to 0.7677 dollar from 0.7639 dollar.
The dollar bought 113.78 Japanese yen, lower than 113.91 yen of the previous session. The U.S. dollar rose to 1.0004 Swiss franc from 1.0002 Swiss franc, and it was down to 1.2731 Canadian dollars from 1.2786 Canadian dollars.
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