2023-05-17 10:26:23
The dollar rose on Wednesday, benefiting from its safe-haven status in light of the possibility of a debt default in the United States, as dealers reduced their bets that the US Federal Reserve will cut interest rates soon in the wake of the announcement of consumer spending data.
After the meeting, the US president said it was good and productive, but he also stressed that “there is still work to be done.”
In turn, McCarthy told reporters that the two sides are still far apart on an agreement to raise the debt ceiling. But he said, “It is possible to reach an agreement by the end of the week.”
currency movements
The dollar index rose 0.3 percent to 102.96 against a basket of major currencies, the highest level since early April.
The dollar rose 0.4 percent against the Japanese yen to a two-week high of 136.99 yen, and rose 0.5 percent against the pound to $1.2422, the highest level since April 26.
The New Zealand dollar generally settled at $0.6232.
The euro fell 0.3 percent to a six-week low against the US currency, at $1.0831.
The Turkish lira recorded its lowest level in ten weeks at 19.75 against the dollar, and the currency has been under pressure since the results of the presidential elections led to a run-off,
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