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.
LONDON, Oct 11 (Reuters) – The dollar traded near a two-week
peak versus the yen on Friday while growth-linked currencies
outperformed as signs of a breakthrough in the U.S. budget
impasse lifted investors’ appetite for risk.
Rates on U.S. bills maturing on Oct. 17 were off highs,
pricing in a retreat in the chances of a historic debt default
next week while the stock volatility index fell as global
equities rose. That led investors to pare positions in
currencies like the yen and Swiss franc used as safe havens by
investors in times of political and financial nerves.
LONDON, Oct 9 (Reuters) – The dollar rose on Wednesday on
news that President Barack Obama has tapped Federal Reserve Vice
Chairwoman Janet Yellen to head the U.S. central bank, which
lent some relief to markets still nervous about the budget
Analysts said that chances of a partial resolution to the
ongoing crisis also caused investors to refrain from betting
aggressively on dollar weakness.