US$ hits 4-month low following setback for Trump

London

THE US dollar slid to a four-month low against a basket of currencies on Monday as investors weighed the prospects of a US fiscal spending boost under President Donald Trump after his failure to push through a key healthcare reform bill.

Mr Trump's inability to deliver on a major election campaign pledge marked a big setback for a Republican president whose own party controls Congress, and raised doubts over whether he will be able to see through tax reforms and a big spike in spending.