U.S. dollar falls on policy uncertainties

Source: Xinhua| 2017-08-01 04:42:59|Editor: yan
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NEW YORK, July 31 (Xinhua) -- The U.S. dollar declined against most major currencies on Monday following weak U.S. inflation readings.

The dollar has struggled as weak U.S. inflation readings last week dampened expectations for hawkish Federal Reserve policy.

Meanwhile, analyst said the greenback was under pressure as recent political uncertainty in Washington has caused concerns about whether the Donald Trump administration could deliver on its campaign promise in fiscal stimulus and tax cuts.

The dollar index, which measures the greenback against six major peers, was down 0.31 percent at 92.967 in late trading.

In late New York trading, the euro rose to 1.1825 U.S. dollars from 1.1754 U.S. dollars, and the British pound climbed to 1.3193 U.S. dollars from 1.3143 U.S. dollars. The Australian dollar increased to 0.7990 U.S. dollar from 0.7989 U.S. dollar.

The U.S. dollar bought 110.37 Japanese yen, lower than 110.68 yen of the previous session. The U.S. dollar fell to 0.9663 Swiss franc from 0.9687 Swiss franc, and it edged up to 1.2478 Canadian dollars from 1.2444 Canadian dollars.

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