The U.S. dollar fell against the other major currencies on Tuesday after Republicans refused to repeal Obamacare.

The dollar index fell to its lowest level since September of 2016, after it became clear that Republican leaders in the Senate no votes to even begin discussion of the legislation. Collapse raises questions about the rest of the economic program of the President of the trump.

"I think the markets are losing confidence that President trump will be able to fulfill his plans," said strategist FXTM Hussein Sayed. "6 months of tenure, and without any serious legislation, written into the law, it seems that "the art of the deal" doesn't work in US politics".

The dollar's decline means that Tuesday was only bought 1.15 euros, the weakest level in 15 months. It also fell against the yen, the Swiss franc and the British pound. If trump will not be able to quickly make progress on other promises, such as drastic tax cuts and increased infrastructure spending, investors may react negatively.
sections: Economics, World News