Forex — Dollar Remains Under pressure on U.S. Political concerns

Dollar hit by US tax overhaul in doubt — The dollar remained broadly lower against other major colleagues on Wednesday, as doubts over a possible U.S. tax overhaul before the end of the year, weighed on the greenback.

The greenback came under pressure, as US President Donald Trump’s public feud with the Tennessee Senator and fellow Republican Bob Corker concern over the vote by a large tax-code reform has caused.

Market participants were also on the minutes of the Federal Reserve’s most recent monetary policy meeting, due to be released later in the day.

At its September meeting, the Fed had the option of a third interest rate increase in t indicates year.

EUR/USD eaased up 0.08% to 1.1817, the highest level since September 26, the Spanish political tensions temporarily eased.

Catalan-President Carles Puigdemont on Tuesday signed a document of the proclamation of the region signed the independence from Spain, but he also suspended to allow the motion for the coming weeks, talks with the Spanish government, to avert an immediate crisis.

The Spanish government toconvene in Madrid was planned for Wednesday on the coast to his answer to the Catalan independence movement.

Elsewhere, GBP/USD is 0.09% showed up to 1.3191.

The yen was higher, with USD/JPY down 0.15% at 112.26, while USD/CHF was little changed at 0.9753.

The Australian dollar was stronger, with AUD/USD up 0.12% at 0.7786, while NZD/USD held stable at 0.7067.

Meanwhile, USD/CAD was almost unchanged at 1.2515.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 93.03 of at 05:20 ET (09:20 GMT), only from a more than one-week low of 92.89 hit earlier in the day.

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