U.S. Dollar down as Debt Deadlock Continues

The dollar slipped on Monday and the yen gained on safe-haven demand, as U.S. lawmakers struggled to reach a deal before this week’s debt ceiling deadline, stoking concerns the United States may actually default on its debt obligations.

While negotiations in the U.S. Senate to bring the fiscal crisis to an end showed signs of progress on Sunday, failure to break the stalemate before Thursday, the deadline to raise the debt ceiling, would leave the world’s biggest economy unable to pay its bills in the coming weeks.

In late trading, the dollar was down less than 0.1 percent against a basket of currencies at 80.32.

CNBC

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