Forex - Dollar Index Slides But Tax Vote Limits Losses

Dollar under pressure vs. rivals but U.S. tax reform vote limits losses

Investing.com - The U.S. dollar moved lower against other major currencies on Friday, but losses were expected to remain limited after an important U.S. tax reform bill was passed by the House of Representatives.

The U.S. House of Representatives on Thursday , which will now be debated by the Senate.

Investors were still cautious however, as the Republican majority is smaller in the Senate and no decisive action is expected until after next week's Thanksgiving holiday.

The greenback also remained under pressure following reports that U.S. President Donald Trump's election campaign for documents in an ongoing investigation relating to possible Russian interference in the 2016 presidential election.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.30% at 93.56 by 02:15 a.m. ET (06:15 GMT), off Wednesday's three-week low of 93.31.

gained 0.30% to 1.1802, while rose 0.32% to trade at 1.3236.

Elsewhere, declined 0.46% to trade at 112.54, while slipped 0.17% to 0.9923.

The Canadian dollar was higher, with down 0.13% to 1.2741 as markets were the release of Canadian inflation data due later in the day.

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