It’s been a bumpy ride for everyone involved in the politicking surrounding the current budget situation in the United States. Greenback is once again edging out its major counterparts as hopes for a deal rise a little bit after being dashed earlier.
There’s been something of a cycle during the last couple of days. There is hope for a debt deal, followed by disappointment when talks fall apart. Indeed, that cycle has been seen in the last 24 hours. Earlier on Tuesday, rumors swirled that an agreement was imminent on ending the partial government shutdown and raising the debt ceiling. Those hopes were dashed as Republicans in the House watched an effort to hold a vote on the issue fall apart.
Now, though, hope is rising again as Senate leaders begin talking about what can be done. The US dollar is a little bit higher on these latest developments. However, no one really knows what will happen next, or if a deal really can be reached.
At 6:04 GMT the dollar index is up to 80.5320 from the open at 80.4670. EUR/USD is lower, dropping to 1.3522 from the open at 1.3525. GBP/USD is down to 1.5981 from the open at 1.5998. USD/JPY is on the rise, gaining to 98.4980 from the open at 98.1630.
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