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Debt ceiling talks lead dollar near 7-week high

May 18, 2023
1 min read

Biden and McCarthy yesterday Wednesday confirmed their intention to reach an agreement soon to raise the public debt ceiling to $ 31.4 trillion, after agreeing the day before to conduct direct negotiations after a stumbling block that has lasted for months.

A sudden rise in Treasury yields helped the dollar rise, and the dollar index, which measures the US currency against a basket of currencies, remained close to the seven-week high recorded in the previous session and rose. hit 102.86 last session.

The euro is under pressure, bringing it closer to its lowest level in six weeks at $1.0841. The single European currency hit $1.08105 on Wednesday, its lowest level since April 3.

The British pound fell about 0.09% against the dollar to $1.2475.

As for the Japanese yen, it hit 137.50 to the dollar in its last session, after falling around 1% yesterday Wednesday.

In the latest trades, the Bitcoin cryptocurrency fell 0.1% to $27,349.

Read the Latest World News Today on The Eastern Herald.

Arab Desk

Arab Desk

The Eastern Herald’s Arab Desk covers the Middle East and Arab world, including Gaza, Israel-Palestine, Lebanon, Hezbollah, Iran, regional conflicts, diplomacy and political developments shaping the region.

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