London — The dollar fell to a 10-month low on Tuesday, bearing the brunt of a sell-off triggered by another setback to US President Donald Trump’s agenda and scaled back the expectation for another rate increase at the Federal Reserve in 2017. The announcement overnight that two Republican senators would not support the latest version of the healthcare bill — had led to speculation that the reform proposal is likely to be withdrawn. It fed into a belief that Trump’s tax cuts and spending plans will come to nought. The dollar index against a basket of major currencies sank to its lowest since last September with euro rising above $1.15 against the greenback for the first time since May 2016. In Asian hours, the Australian dollar surged more than 1% after minutes from the central bank’s last policy meeting showed it turning more upbeat on the economic outlook. "The reform momentum of the Trump administration has received another blow," said strategists at Morgan Stanley led by Hans Re...
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