U.S. dollar rises on tax reform expectation

NEW YORK, Dec. 15 (Xinhua) -- The U.S. dollar increased against other major peers Friday on renewed hopes for passing a tax bill in the country.

Investors kept a close eye on the progress of the U.S. tax reform, as the House will convene later on Friday to discuss the details of the tax overhaul.

It was reported that the House and Senate Republicans are planning to pass a package next week, with major elements including lower corporate and top individual tax rates.

The dollar index, which measures the greenback against six major peers, was up 0.47 percent at 93.927 in late trading.

In late New York trading, the euro fell to 1.1759 dollars from 1.1799 dollars in the previous session, and the British pound declined to 1.3325 dollars from 1.3441 U.S. dollars in the previous session. The Australian dollar inched down to 0.7648 dollar from 0.7676 dollar.

The U.S. dollar bought 112.62 Japanese yen, higher than 112.12 yen of the previous session. The U.S. dollar increased to 0.9907 Swiss franc from 0.9871 Swiss franc, and it climbed to 1.2880 Canadian dollars from 1.2732 Canadian dollars. Enditem