NEW YORK, July 18 (Xinhua) -- The U.S. dollar traded lower against most major currencies on Tuesday, as investors doubted about U.S. President Donald Trump's pro-growth agenda.
U.S. Senate Majority Leader Mitch McConnell conceded failure on Monday in efforts to repeal and replace former President Barack Obama's signature legislation, also known as the Obamacare, after more Republican senators joined the opposition against a GOP replacement.
Trump has said the repeal and replacement of Obamacare must happen before action can be taken on his other plans, including a major tax reduction.
Analysts said there appear to be growing concerns that Trump's pro-growth agenda, including tax reform, infrastructure spending and deregulation may take longer to pass than initially thought.
The dollar index, which measures the greenback against six major peers, was down 0.55 percent at 94.608 in late trading.
In late New York trading, the euro rose to 1.1563 U.S. dollars from 1.1478 dollars, and the British pound decreased to 1.3049 dollars from 1.3054 U.S. dollars in the previous session. The Australian dollar edged up to 0.7923 U.S. dollar from 0.7797 U.S. dollar.
The U.S. dollar bought 112.00 Japanese yen, lower than 112.63 yen of the previous session. The U.S. dollar retreated to 0.9540 Swiss franc from 0.9622 Swiss franc, and it edged down to 1.2625 Canadian dollars from 1.2690 Canadian dollars.
