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US Dollar Retreats After Government Shutdown

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The dollar has fallen against a range of currencies, driven by fears that a partial shutdown of the US government will hit the country’s economy.

Analysts said the fall in the dollar had not been more pronounced as the shutdown had been expected.

The shutdown began after the two houses of Congress failed to agree a budget.

The dollar fell to an eight-month low against the euro and a one-and-a-half year low against the Swiss franc, which is seen as a haven currency.

It also weakened against the Japanese yen, and fell back against the pound.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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