Arab Today, arab today dollar dips as debt deadlock weighs
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

Dollar dips as debt deadlock weighs

Arab Today, arab today

Arab Today, arab today Dollar dips as debt deadlock weighs

Washington - Tehran

The dollar slipped in early Asia-Pacific trade on Monday as investors looked for signs of progress to break the deadlock that will avert a United States debt default. White House officials and Republican leaders scrambled to reassure that the United States would avert a debt default, but the two sides did not appear to be moving closer to a deal. Amid the uncertainty the greenback eased, with the euro hitting a high of $1.4396 from $1.4353 in late New York trade on Friday. S&P 500 stocks futures started 1 percent lower and gold popped up to $1,608. “In the absence of deficit deal then the pressure is all on the greenback in the short term at least,” said BNZ currency strategist. “But if they come up with a decent, credible plan for deficit reduction in the long term then that could pave the way for some U.S. dollar strength.” The dollar was also weaker against the Japanese yen, falling to a near four-month low of 78.13 yen, from 78.52 yen on Friday. It then trimmed its losses and last traded at 78.36. It also dropped to 0.8135 Swiss francs, from 0.8180 on Friday. The greenback was down 0.27 percent against a basket of currencies at 73.997 .DXY, with losses limited perhaps because markets still assume that sanity will reign in Washington and a debt deal will be done. The two sides are deadlocked over Republican demands for a short-term debt-limit increase that would force President Barack Obama to request further borrowing authority in early 2012. The impasse prompted White House Chief of Staff Bill Daley to warn that there would be a “few stressful days” ahead for financial markets, with the deadline to lift the $14.3 trillion U.S. borrowing limit now only nine days away. House of Representatives Speaker John Boehner, who had walked away from private talks with the White House on long-term deficit reduction on Friday, was reported saying there was a path to cut spending but Republicans would have to accept sacrifices. Sources who had been on a conference call held by Boehner on Sunday reported him saying he did not think it was possible to negotiate a large spending-cut deal directly with the White House. He told Republicans he is drafting legislation that reflects the principles of a strict spending-cut bill that failed in the Democratic-controlled Senate last week, the sources said. For their part, Senate Democrats had come up with their own plan to cut spending by around $2.5 trillion, though it was not clear if this would satisfy Republicans. Ugly duckling contest However, the euro zone’s lingering debt issues were seen as brakes on the single currency’s move higher. The sweeping bailout and policy package agreed by euro zone leaders has helped stem market panic in the short-run. But analysts say the measures are not enough to bring the crisis to a swift resolution. “Things aren’t too rosy in Europe either and so it’s really a contest to see who’s the ugliest duckling at the party between the euro and the U.S. dollar,” said Biz’s Burrowes. Resistance for the euro is seen initially at $1.4440.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dollar dips as debt deadlock weighs Arab Today, arab today dollar dips as debt deadlock weighs

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dollar dips as debt deadlock weighs Arab Today, arab today dollar dips as debt deadlock weighs

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday