NEW YORK, May 19 (Xinhua) — The U.S. dollar fell in late trade on Friday as investors bet on a less hawkish Fed and U.S. debt limit talks came to an abrupt halt.
The dollar index, which measures the greenback against six major peers, was down 0.37 percent at 103.1924 in late trade.
In late New York trading, the euro rose to $1.0807 from $1.0767 in the previous session, and the British pound was up at $1.2448 from $1.2404 in the previous session.
The US dollar bought 138.0760 Japanese yen, down from 138.6390 Japanese yen from the previous session. The US dollar fell to 0.8998 Swiss francs from 0.9050 Swiss francs and it fell to 1.3509 Canadian dollars from 1.3510 Canadian dollars. The US dollar fell to SEK 10.5292 from SEK 10.5839.
Fed Chairman Jerome Powell commented on Friday that the situation in the banking system was under control and that the Fed would not need to raise interest rates as much as previously expected.
It has been reported that high-stakes talks on raising the US national debt limit were abruptly suspended on Friday after Republican negotiators walked out of the room.
It is unclear whether negotiations will resume this weekend.
“Until people are willing to have reasonable conversations about how you can actually move forward and do the right thing, then we’re not going to sit here and talk to ourselves,” Garret Graves, Republican representative from Louisiana and House Speaker Kevin McCarthy hired to be his lead negotiator, told reporters.
Statistics Canada reported Friday that Canadian retail sales fell 1.4 percent month-on-month in March, in line with economists’ expectations. The reading fell by 0.2 percent in February.
Source: sn.dk