The dollar records another day of gains but remains below $4,200.

The price of the dollar in Colombia rose this Wednesday, but remained below the $4,200 level, amid another day of relative calm in the market as investors await President Donald Trump's controversial plan for budget cuts and tax cuts in the U.S.

(Read: Labor reform would create 91,000 new jobs, according to Ministry of Labor calculations .)

The US currency is trading at an average price of $4.176 , up 4 pesos compared to the Representative Market Rate of $4.172.

Trump failed Tuesday in his goal of uniting House Republicans by failing, at least for now, to convince some members of his party to support his plan for budget cuts and tax cuts.

(See: Moody's warns that Colombia's credit profile has weakened .)

The president went to Congress to meet with House Speaker Mike Johnson, a Republican, and other lawmakers from his party after some voted against his bill in the Budget Committee, causing it to remain blocked until Monday, when it was moved forward again.

(Also: Former minister says a referendum is not required because 'everything is in the law' ).

"All eyes are now on the tax bill, as the final deal will go a long way toward determining how large the U.S. deficit becomes in the coming years," Deutsche Bank analysts said in a note reported by CNBC.

In other markets, the price of West Texas Intermediate (WTI) crude oil rose 1.11% to $62.72 a barrel .

PORTFOLIO