Dollar steadies, earlier rise stalls as market endures U.S. tax bill wait

The dollar steadied against the yen on Friday, losing steam after rising to a 10-day high, as the market endured the wait for a vote 

The greenback stretched overnight gains and initially climbed to 112.690 yen JPY=, its highest since Nov. 21, as Wall Street rallied and Treasury yields spiked after U.S. tax reform plans were seen progressing towards legislative approval following an endorsement by Senator John McCain. 

But the dollar was last at 112.510 yen, unchanged on the day, after it was decided that the U.S. Senate will not vote on the tax bill late on Thursday night U.S. time but would continue the debate on Friday.

on a U.S. tax reform bill. 

S&P mini futures ESc1 were last down 0.3 percent after Wall Street shares soared to record highs on Thursday. 

The dollar index against a basket of six major currencies was 0.1 percent lower at 92.956 .DXY but poised to eke out a 0.2 percent gain for the week, during which it managed to pull away from a two-month low of 92.496. 

The euro was little changed at $1.1908 EUR= after gaining about 0.5 percent the previous day.

The common currency, which reached a two-month top of $1.1961 on Monday following upbeat German data and pressured the dollar, was still on track for a 0.3 percent weekly loss after a volatile week. The pound was a shade higher at $1.3534 GBP=D3 after surging 0.9 percent overnight when it set a two-month high of $1.3549. 

The Aussie has struggled against the buoyant dollar, which has benefited this week from a significant rise in Treasury yields and upbeat economic indicators.