Dollar remains under pressure as euro surges

Investing.com - The dollar remained under pressure Wednesday as the euro surged to 10-month highs on hawkish remarks by ECB chief Mario Draghi.The dollar index was off 0.21% at 95.98 at 02:45 ET, near its lows for the day.The dollar also felt the effect of a delay in a Senate vote on healthcare reform.That threw into question the Trump administration's ability to deliver on tax cuts and fiscal spending.The IMF Tuesday cut its growth forecast for the U.S. economy for 2017 and 2018 after dropping the assumption about the implementation of Trump's plans.Federal Reserve Chair Janet Yellen Tuesday indicated the U.S. economy is strong enough to support further rate hikes.Speaking in London, Yellen also said asset price valuations are "somewhat rich."The euro was up 0.27% at $1.1370 as Draghi talked up the euro-zone recovery.That sparked speculation of the removal of ECB stimulus measures.Draghi, BoE chief Carney and BoJ governor Kuroda are due to speak later Wednesday.The (pound) was also firm above the $1.28 mark. The dollar was steady against the yen at the 112 mark.