October 24, 2017 / 8:10 PM / 8 months ago

FOREX-Dollar flat as support for Taylor offsets reduced tax-cut hopes

(Updates market action, adds background)

NEW YORK, Oct 24 (Reuters) - The dollar was little changed on Tuesday against a basket of currencies as a report of support from Republican Senators for John Taylor as Federal Reserve chief offset diminished hopes for a passage of a major tax cut.

Less optimism for a tax overhaul came following a CNBC report, citing an aide of Senate leader Mitch McConnell, that three GOP Senators may not back the Republican tax bill.

The outlook for a tax bill grew dimmer after Republican Senator Jeff Flake, a critic of President Donald Trump, said he would not seek re-election in 2018. This stoked worries among traders of even less support for a tax plan, analysts said.

At 3:58 p.m. (1958 GMT), the gauge that tracks the greenback against a group of six currencies was little changed on the day at 93.945, recovering from an earlier low of 93.682. (Reporting by Richard Leong; Editing by Diane Craft and Chris Reese)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below