Dollar Slumps As Trump Suffers New Defeat On Fitness Care

“It seems markets are losing confidence that President Trump will be able to deliver on his promised plans,” said FXTM strategist Hussein Sayed.
The U.S. dollar slumped against major currencies on Tuesday after Republicans abandoned their latest plan to repeal Obamacare.
The dollar’s decline meant that it bought only 1.15 euros on Tuesday, its weakest level in 15 months.
The collapse raises questions about the rest of President Trump’s economic agenda.
If Trump can’t make progress quickly on other signature campaign promises such as a massive tax cut and increased spending on infrastructure, investors could react negatively.

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