Trump's Tax-Cut Bill Sends Dollar Tumbling Amid Global Market Volatility

The U.S. dollar remains under pressure as investors react to President Trump's proposed tax-cut bill, which is stirring concerns over potentially rising national debt.

While global markets and the euro gained ground on Monday, the focus is now on the U.S. Senate's debate on the bill, following Moody's recent U.S. credit downgrade.

As tensions around U.S. tariffs eased, the euro surged. Investors are watching whether the European Central Bank can bolster the single currency as a dollar alternative.

(With inputs from agencies.)