The dollar rose on Wednesday, taking advantage of its safe-haven status in light of the possibility of a debt default in the United States, as dealers reduced their bets that the Federal Reserve (the US central bank) would cut interest rates soon in the wake of the announcement of consumer spending data.
US President Joe Biden and Republican House Speaker Kevin McCarthy are close to reaching an agreement regarding raising the US debt ceiling, but nothing concrete has been reached yet.
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.
2023-05-17 10:06:24
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