U.S. dollar declines amid tax reform uncertainties

NEW YORK, Dec. 18 (Xinhua) -- The U.S. dollar fell against other major currencies on Monday as investors worried about uncertainties of the country's tax reform.

U.S. Congress is expected to vote as early as Tuesday on a plan that would slash the federal corporate tax rate to 21 percent from 35 percent, according to CNBC.

Passing the bill would mark a big legislative win for Republicans, who have been pushing to revamp the U.S. tax code for most of 2017.

However, some analysts doubted that even though the tax reforms would be pushed through, its pro-growth effect probably won't be as big as expected.

There is no major economic data due on Monday.

The dollar index, which measures the greenback against six major peers, decreased 0.24 percent at 93.706 in late trading.

In late New York trading, the euro rose to 1.1783 dollars from 1.1759 dollars in the previous session, and the British pound climbed to 1.3385 dollars from 1.3325 U.S. dollars in the previous session. The Australian dollar gained to 0.7667 dollar from 0.7648 dollar.

The U.S. dollar bought 112.56 Japanese yen, lower than 112.62 yen of the previous session. The U.S. dollar dropped to 0.9860 Swiss franc from 0.9907 Swiss franc, and it moved down to 1.2869 Canadian dollars from 1.2880 Canadian dollars. Enditem