The dollar rose against most currencies on Tuesday, helped by upbeat U.S. housing data, but gains were limited by doubts about the overall impact of a major U.S. tax overhaul plan on the economy.
The Republican-controlled U.S. House of Representatives approved sweeping, debt-financed tax legislation on Tuesday, sending the bill to the Senate, where lawmakers were due to take up the package later in the evening. Passage was all but certain in the Republican-controlled Senate, as well.
The dollar trimmed gains versus the yen and held losses against the euro after the House approved the bill.
"Any boost to the economy would be small and there is nothing in the final bill to change that view," said London-based Andrew Hunter, U.S. economist, at Capital Economics.