2023-05-30 06:15:00
© Archyde.com. US dollar coins in an illustrative photo taken on March 10, 2023. Photo: Dado Ruvic/Archyde.com.
SINGAPORE (Archyde.com) – The dollar fell slightly against a basket of major currencies on Tuesday, but remained close to a two-month high after a US debt ceiling agreement increased risk appetite, although passage of the agreement in Congress could face difficulties.
The index, which measures the US currency against six major currencies, fell 0.02 percent to 104.28 points, near the two-month high of 104.42 points it touched on Friday. The index is expected to end the month up by 2.5 percent.
A handful of conservative right-wing Republican lawmakers said on Monday they would oppose any deal to raise the US debt ceiling, which currently stands at $31.4 trillion.
The opposition highlights the hurdles that Democratic President Joe Biden and Republican House Speaker Kevin McCarthy will face in getting the deal through the Republican-controlled House and Democratic-controlled Senate before the country reaches the debt limit, likely next Monday.
It rose 0.01% to $1.0706, and the pound rose in the latest trading session to $1.2356, up 0.04% over the course of Tuesday.
It rose 0.11 percent to 140.31 per dollar, after touching a six-month low of 140.91 yen per dollar on Monday.
The Australian dollar fell 0.31% to $0.652, and the New Zealand dollar fell 0.15% to $0.604.
It fell to a new record low of 20.2 against the dollar, continuing the losses incurred since President Recep Tayyip Erdogan’s victory in Sunday’s presidential run-off.
(Prepared by Amira Zahran for the Arabic Bulletin – Edited by Mahmoud Reda Murad)
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