Greenback slumps on worries of American government shutdown

Greenback slumps on worries of American government shutdown

On Friday, the US currency dived versus other key currencies, amid concerns of a probable government shutdown on Saturday.

Market sentiment on the US dollar was quite vulnerable because American lawmakers were struggling to come to a compromise as for a federal budget deal on Thursday.

The evergreen buck has also been suppressed by worries that the global economic revival is going to outpace American surge and also help other key financial institutions, including the ECB to start unwinding loose monetary policy at a faster tempo.

Gauging the greenback’s value versus a trade-weighted basket of six crucial currencies, the US dollar index slumped 0.13% hitting at 90.19.

The common currency ascended, with EUR/USD adding 0.15% reaching 1.2256, GBP/USD stood still at 1.3900.

The Japanese yen and the Swiss franc managed to grow, with USD/JPY sliding 0.25% to 110.82 and USD/CHF losing 0.18% being worth 0.9570.

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