Dollar higher; hawkish Fed officials, debt ceiling uncertainty helps By

© Reuters. – The U.S. dollar traded higher in early European hours Wednesday following hawkish comments from a number of Fed officials and with the debt ceiling standoff in Washington continuing.

At 03:10 ET (07:10 GMT), the , which tracks the greenback against a basket of six other currencies, gained 0.2% to 102.560.

The greenback has benefited of late from the uncertainty surrounding the potential for a U.S. default if a deal to lift the country’s borrowing limit is not done.

President Joe Biden met with Republican House of Representatives Speaker Kevin McCarthy on Tuesday, and although encouraging noises about the likelihood of a deal emerged from the get-together, nothing was decided.

The lack of a deal would likely push the U.S. economy into recession, Biden warned, but it would also have an extremely negative impact globally and thus the dollar is gaining given its safe…

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