The U.S. dollar sank to a 10-month low against a basket of major currencies on Tuesday, hobbled by uncertainty over the pace of the Federal Reserve's policy tightening and worries that President Donald Trump will fail to deliver healthcare reforms.
Two more Republican Senators, Jerry Moran and Mike Lee, announced their opposition on Monday to a revised Republican healthcare bill, delivering a serious blow to the legislation.
"If the bills won't pass, there will be no money for tax cuts. The implementation of his fiscal policy will be difficult," said Bart Wakabayashi, Tokyo Branch Manager of State Street.
Friday's weak reading on U.S. inflation and retail sales also fanned speculation that the Fed may not have justification for another rate hike by the end of this year, despite policymakers' projection for such a move.
Money market instruments are now pricing in less than 50 percent chance of a rate increase during the rest of the year.
The New Zealand dollar slipped as much as 0.8 percent to $0.7261 after data showed consumer price inflation was flat in the second quarter, below the 0.2 percent expected by analysts in a Reuters poll, and sharply lower from the 1.0 percent posted in the first quarter.
The latest data is likely to reinforce the central bank's view that it is in no rush to hike interest rates.
The kiwi last stood , helped by the U.S. dollar's broad decline.
Two more Republican Senators, Jerry Moran and Mike Lee, announced their opposition on Monday to a revised Republican healthcare bill, delivering a serious blow to the legislation.
"If the bills won't pass, there will be no money for tax cuts. The implementation of his fiscal policy will be difficult," said Bart Wakabayashi, Tokyo Branch Manager of State Street.
Friday's weak reading on U.S. inflation and retail sales also fanned speculation that the Fed may not have justification for another rate hike by the end of this year, despite policymakers' projection for such a move.
Money market instruments are now pricing in less than 50 percent chance of a rate increase during the rest of the year.
The New Zealand dollar slipped as much as 0.8 percent to $0.7261 after data showed consumer price inflation was flat in the second quarter, below the 0.2 percent expected by analysts in a Reuters poll, and sharply lower from the 1.0 percent posted in the first quarter.
The latest data is likely to reinforce the central bank's view that it is in no rush to hike interest rates.
The kiwi last stood , helped by the U.S. dollar's broad decline.
