US dollar breaks 3-day losing streak

London

THE dollar broke a three-day losing streak on Monday after the US Senate approved a major tax overhaul at the weekend, though gains were limited as investors trimmed expectations of future US rate hikes.

While US officials have said the biggest change to tax laws since the 1980s would lift economic growth, investors said the boost would be minimal and is unlikely to force bond markets to radically alter their expectations of US monetary policy outlook in the coming months.