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U.S. Dollar Gains some Ground on Resolution Hope

The dollar regained some footing against major currencies on Thursday, as hopes grew of a break in the U.S. fiscal standoff with Washington finally showing signs of pulling the world’s biggest economy from the brink of an historic debt default.

The dollar rose 0.2 percent against the yen in early Asian trade to 97.53 yen, up about a full yen from two-month low of 96.55 yen hit on Tuesday. The dollar index held firm at 80.41, extending its gains from an eight-month low of 79.627 hit a week ago. The euro was slightly easier at $1.3517 after having fallen 0.35 percent overnight.

“There are hopes that Washington is moving on the deadlock over the government shutdown and debt ceiling. The dollar looks set to gain if these problems are solved,” said Sho Aoyama, senior market analyst at Mizuho Securities.

CNBC [1]

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