Investing.com – The dollar held steady against other major counterparts on Wednesday, amid fresh concerns over an upcoming U.S. tax overhaul.
The greenback was hit by reports that a key corporate tax cut currently under discussion in U.S. tax reforms plans could be delayed for one year.
The Washington Post reported on Tuesday that Senate Republican leaders are thinking of postponing the implementation of the major corporate tax cut to comply with Senate rules.
The U.S. dollar had been supported in recent session by hopes the U.S. administration’s tax cuts could boost the economy.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.77 by 02:10 a.m. ET (06:10 GMT).
USD/JPY was down 0.16% at 113.82, pulling away from Monday’s eight-month high of 114.73.
Earlier in the week, the dollar had benefited from the diverging policy stances of the Federal Reserve and the Bank of Japan. BoJ Governor Haruhiko Kuroda said on Monday that the central bank will continue with its monetary easing policy, but added that the bank was closely watching the economic effects of prolonged stimulus.
The euro was little changed, with EUR/USD at 1.1593, the lowest level since mid-July, still weighed by the European Central Bank decision late last month to extend its bond purchases until September 2018.
Meanwhile, USD/CAD slipped 0.12% to 1.2765.