Dollar dips on tax reform doubts, euro strength

London

THE dollar dipped to a 12-day low against a basket of major currencies on Wednesday as uncertainty that US President Donald Trump would push through his planned tax reforms pushed the greenback down against a broadly stronger euro.

The euro hit a two-week high of US$1.1845, climbing alongside Spanish stocks and bonds, on relief that Catalonia had stopped short of formally declaring independence from the rest of Spain.