Dollar drifts higher as US debt ceiling in spotlight

[1/2] A picture illustration shows U.S. 100-dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao

U.S. retail sales rise less than expectedU.S. industrial production gains in AprilMarkets expect Fed rate pause in JuneFocus on debt ceiling, meeting ends on upbeat note

TOKYO, May 16 (Reuters) – The dollar edged higher on Tuesday in choppy trading, with no clear direction, as investors kept an eye on debt ceiling talks to avert a possible default that could reverberate across asset markets and damage confidence in the world’s largest economy.

The dollar index, a measure of the greenback’s value against six major currencies, was up 0.2% on the day at 102.61 . Against the yen, the greenback rose 0.2% to 136.315 yen

Democratic President Joe Biden and top congressional Republican Kevin McCarthy’s U.S. debt ceiling negotiations ended on Tuesday after less than an hour, as the looming fear of an…

Read more…

Request a Call Back

Contact Info