Euro backs off five-month high after U.S. treasury secretary's statements

Euro fell on Wednesday away from a five-month high after the dollar rebounded following U.S. treasury secretary's promise of huge corporate tax cuts. 

The new plan would cut corporate taxes to 15% from 35%, while allowing multi-national companies to bring back their profits and pay a 10% tax on them, compared to the current 35%, with more details to be announced later. 

The plan soothed concerns about a government shutdown after president Trump bumped off border wall funding plans from the spending bill. 

EUR/USD last traded at 1.0871, down from the opening of 1.0928, with a session-high at 1.0952, and a low at 1.0868. 

A lack of data from the euro zone pushed the common currency down as the dollar strengthens.