Source:
https://scmp.com/business/global-economy/article/2120479/dollar-looking-its-biggest-weekly-loss-more-month-focus-us Business
Dollar looking at its biggest weekly loss in more than a month as focus on US tax legislation
A pressman inspects a stack of 2017 50 uncut sheets of US$1 dollar notes. The dollar is on track to post its biggest weekly loss in more than a month. Photo: Bloomberg
The dollar held near the day’s lows against a trade-weighted basket of its rivals on Friday and is set for its biggest weekly loss in more than a month as investors locked in gains while awaiting progress on a landmark US tax bill.
Congressional Republicans took an important step toward the biggest US tax-code overhaul since the 1980s, with the House of Representatives approving a broad package of tax cuts, and a Senate panel advancing its own version of the legislation sought by senior lawmakers and President Donald Trump.