India, June 30 -- The U.S. dollar dropped against its most major counterparts in the New York session on Monday, as investors monitored negotiations over President Donald Trump's tax bill in the Republican-controlled Senate.
Treasury Secretary Scott Bessent said that the bill will progress in the coming hours.
The bill passed a key procedural vote in the Senate and is estimated to increase the deficit by about $3.3 trillion.
Hopes of trade deals between the U.S. and key partners also weighed on the safe-haven currency.
The greenback declined to near a 4-year low of 1.1779 against the euro and near a 14-year low of 0.7930 against the franc. The currency is poised to find support around 1.20 against the euro and 0.77 against the franc.
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