US Dollar slides to 1-1/2 week lows, inching closer to 93.00 mark

   •  US tax-bill optimism fades. 
   •  An uptick in the US bond yields fails to lend support.
   •  Tuesday’s possible Senate vote awaited.

The greenback came under some fresh selling pressure on Monday, with the key US Dollar Index hitting 1-1/2 week lows near the 93.25 region. 

Despite the latest optimism over a sweeping tax code overhaul bill, some uncertainty that the legislation would indeed be pushed through kept the USD bulls on defensive.

Investors also seemed skeptic over the positive implication of the tax reforms and thus, refrained from placing any fresh bullish USD bets ahead of a Senate vote, planned as early as Tuesday.

Meanwhile, the market also seems to have largely negated a renewed uptick in the US Treasury bond yields, with a goodish rebound around the EUR/USD major also exerting some downward pressure on the buck. 

The shared currency found some support after Germany's Social Democrats agreed on Friday to open coalition talks with Chancellor Angela Merkel, paving the way to end the country's political deadlock, and in-line EZ CPI print for November. 

In absence any major market-moving economic releases due for release from the US, market participants are more likely to wait for this week's important macro data before positioning for the next leg of directional move.