By Ira Iosebashvili 

The dollar was broadly unchanged against developed currencies Friday, as investors awaited a key congressional vote on health care.

The Wall Street Journal Dollar Index, which measures the dollar against a basket of 16 currencies, was recently unchanged at 90.

Republicans are expected to vote on a bill to replace the Affordable Care Act on Friday, a day after last-minute negotiations failed to gain majority support for the legislation only hours ahead of a planned vote in the House.

Many investors view the vote as a gauge of whether President Donald Trump wields the political capital required to push through promised tax cuts and infrastructure spending in the term.

Expectations that the new presidential administration would boost the economy through fiscal stimulus pushed the dollar to a 14-year high in the weeks after the election. The U.S. currency has weakened more recently, as it became apparent the White House would have difficulty fulfilling its legislative agenda.

Failure to repeal the law would "be a blow for the president's prestige and agenda and may temporarily deflate the dollar," analysts at Scotiabank said in a note to clients.

In emerging markets, the dollar fell 0.5% against the Mexican peso, to 18.84. I fell 0.5% against the Russian ruble, to 57.10.

Write to Ira Iosebashvili at ira.iosebashvili@wsj.com

(END) Dow Jones Newswires

March 24, 2017 11:33 ET (15:33 GMT)