LONDON (Reuters) – The dollar rose against the yen on Wednesday after U.S. lawmakers gave renewed assurances a deal to avert a U.S. default was in reach at the end of a chaotic day in Washington.
Officials said an agreement to lift the government’s $16.7 trillion borrowing limit was near late on Tuesday after two separate legislative efforts in the House were buried by Republican rebellions, fraying market nerves.
LONDON (Reuters) – Sterling fell against a firmer dollar on Tuesday as U.S. senators signalled they were close to a deal to reopen the U.S. government and avert an immediate debt default.
The pound rose earlier after British inflation data came in slightly higher than expected which lent some support to the view that the Bank of England would hold off pumping in more stimulus into the economy.
LONDON (Reuters) – The dollar slipped on Monday and the yen gained from safe-haven demand over concerns the United States might default on its debt as lawmakers struggled to reach a deal before this week’s deadline.
The dollar slipped 0.3 percent to 98.25 yen, having touched a low of about 98.05 yen earlier in the day. The dollar retreated from a near two-week high of 98.60 yen set on Friday.
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LONDON (Reuters) – The dollar traded near a two-week peak versus the yen on Friday and growth-linked currencies were in demand, boosted by hopes of an end to the stalemate over the U.S. budget.
Fears of a possible U.S. debt default have damaged the credibility of the world’s largest economy and hurt the dollar, with some institutions cutting the use of U.S. Treasury bills as collateral for transactions in stocks and swaps.