U.S. dollar edges up amid debt ceiling deal

U.S. dollar edges up amid debt ceiling deal

Xinhua
30 May 2023, 05:14 GMT+10

U.S. dollar edges up amid debt ceiling deal

NEW YORK, May 29 (Xinhua) -- The U.S. dollar rose slightly in late trading on Monday with improving risk appetite following the announcement of U.S. debt ceiling deal.

The dollar index, which measures the greenback against six major peers, rose 0.06 percent at 104.2663 in late trading.

The White House and House Republicans inked a deal on federal government debt ceiling on the weekend, lending support to the U.S. dollar in contrast with euro.

The narrowing of U.S. credit default swaps (CDS) over the short term indicates reduced concerns about a U.S. debt default, which could strengthen the U.S. dollar and exert downward pressure on the exchange rate of euro against the U.S. dollar, said James Hyerczyk, senior market analyst with market information supplier FX Empire.

Still, the U.S. dollar weakened against most of other major currencies as risk appetite improved.

The thin trading during U.S. Memorial Day holiday led to narrow fluctuation of major pairs of foreign exchange rate on Monday.

In late New York trading, the euro was down to 1.0709 dollars from 1.0730 dollars in the previous session, and the British pound increased to 1.2357 dollars from 1.2350 U.S. dollars in the previous session.

The U.S. dollar bought 140.3940 Japanese yen, lower than 140.6220 Japanese yen of the previous session. The U.S. dollar fell to 0.9041 Swiss francs from 0.9047 Swiss francs, and it fell to 1.3593 Canadian dollars from 1.3615 Canadian dollars. The U.S. dollar rose to 10.8185 Swedish Krona from 10.8130 Swedish Krona.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Africa Leader.

More Information

null in null

International

Section

German cabinet backs major tax relief plan for 2025–2029

Germany approves 46 billion euros in tax cuts to boost investment

BERLIN, Germany: Germany has taken its first significant fiscal step to jumpstart its slowing economy. This week, the cabinet approved...

Security forces clash with insurgents in North Waziristan

Pakistan army kills 14 militants in northwest Waziristan raid

ISLAMABAD, Pakistan: Pakistan's army said on June 4 that its security forces raided a militant hideout and killed 14 insurgents during...

Latvia, Liberia, Colombia win seats on UN Security Council

Five nations elected to UN Security Council, Latvia joins first time

NEW YORK CITY, New York: The United Nations General Assembly has elected five countries to join the Security Council starting January...

Lee Jae-myung becomes president after South Korea’s political crisis

What can South Korea and world expect in Lee's presidency?

SEOUL, South Korea: South Korea's new president, liberal Lee Jae-myung, took office on June 4 after a dramatic and chaotic few months....

Britain outlaws single-use vapes over health and litter fears

UK bans disposable vapes to fight youth use and plastic waste

LONDON, UK: As of this month, it's officially illegal to buy disposable vapes anywhere in the United Kingdom. The new ban, aimed...

Policy debates in South Korean election drowned by personal attacks

South Korea's election turns nasty amid scandals

SEOUL, South Korea: South Korea's upcoming presidential election has turned into a messy battle full of personal insults and scandals...

Business

Section

Summer travel slows as Americans hunt for last-minute bargains

Cautious Americans delay summer travel, await better deals

WASHINGTON, D.C. Forget bucket lists; this summer, it's all about budget lists. Amid economic uncertainty and a weaker dollar, Americans...

Meta joins tech shift to nuclear power for AI and data centers

Meta taps nuclear power to fuel its growing AI infrastructure

MENLO PARK, California: As artificial intelligence demands explode, Big Tech is turning to an old source for new power: nuclear energy....

Strong economic data drives U.S. stocks higher

Dow Jones jumps 443 points on strong jobs report

NEW YORK, New York - U.S. stocks rose appreciably Friday following the release of a strong jobs report which sent the U.S. dollar higher,...

US Job openings rise, but layoffs and tariff fears cloud outlook

Layoffs jump, resignations drop as US job market loses momentum

WASHINGTON, D.C. America's job market is starting to lose momentum. In April, job openings rose — but so did layoffs, marking their...

Ireland sees 11% drop in social media sector jobs

Ireland's government urged to boost digital and tech support

DUBLIN, Ireland: Digital Business Ireland (DBI) has asked the Government to do more to help Ireland's digital and tech sector. This...

Akio Toyoda’s real estate firm to buy Toyota industries

Toyota to take key supplier private in $26 billion deal

TOKYO, Japan: Toyota has announced that it will take one of its key group suppliers, Toyota Industries, private in a deal worth UD$26...

Movie Review

Polyester [Blu-Ray]