Market News
US dollar slides on budget bill concerns, weak 20-year bond auction - REUTERS
Summary
- Republican hardliners say bill not cutting spending enough
- Bessent to talk FX with Japan counterpart on G7 sidelines
- 'Sell America' investment theme continues to weigh on dollar
- Soft US 20-year bond auction pressures dollar
- Bitcoin hits all-time peak
NEW YORK, May 21 (Reuters) - The dollar fell against a broad swathe of currencies on Wednesday, undermined by worries about the Trump administration's tax cut and spending bill, as well as a weak 20-year Treasury bond sale that reinforced a growing view that investors are shying away from U.S. assets.
Republicans are still divided over the details of the tax legislation. U.S. President Donald Trump met with House Republicans on Tuesday and failed to convince his party's holdouts to back his sweeping tax bill. Republican hardliners continue to argue the bill does not sufficiently cut spending, House Speaker Mike Johnson said.
