While the House of Representatives approved its version of the reform legislation and a key Senate panel cleared a different version, the Republicans' wafer-thin majority in the Senate mean they will have a tough fight to clear the upper chamber. Treasury Secretary Steven Mnuchin predicted a final draft would reach Trump's desk by Christmas, but observers said that time-frame would be tough given the tight margins and some senators' concerns over some of the measures.
Aussie little changed in a quite Monday trade
Asian markets turned lower on Monday as the correction that has hit global equities moved into another week, while the euro faced fresh pressure after German Chancellor Angela Merkel failed to form a government at the weekend. Traders tracked a sell-off on Wall Street, where all three main indexes finished in the red on profit-taking and worries that US lawmakers will struggle to push through Donald Trump's tax-cut plans.
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