Xinhua
31 May 2023, 07:44 GMT+10
NEW YORK, May 30 (Xinhua) -- The U.S. dollar weakened on Tuesday as traders waited for the vote on the debt ceiling deal in Congress.
The dollar index, which measures the greenback against six major peers, fell 0.10 percent to 104.1665 in late trading.
Although there was some progress by way of a deal, some Republicans stated that they would resist the deal within the Republican-dominated House.
In addition to the debt negotiations, the market has refocused on inflation.
U.S. Consumer Confidence Index in May slowed to 102.3 from 103.7 in April, but higher than forecast consensus of 100, according to data issued by The Conference Board on Tuesday.
"Consumer confidence declined in May as consumers' view of current conditions became somewhat less upbeat while their expectations remained gloomy," said Ataman Ozyildirim, senior director of economics at The Conference Board.
The report showed that Americans' inflation expectations remain elevated but stable at a 6.1 percent average over the next 12 months.
High inflation probably won't dissipate quickly barring a sharper slowdown in the U.S. economy, said Thomas Barkin, president of the Federal Reserve Bank of Richmond on Tuesday.
"It is going to be more stubborn than many people would hope. There is a lot of uncertainty of where rates need to go," said Barkin, though he called the current interest rate level "restrictive."
The euro managed to rebound from multi-week lows despite the disappointing economic sentiment in the euro zone for May, which decreased to 96.5 from 99 in April.
In late New York trading, the euro rose to 1.0719 dollars from 1.0709 dollars in the previous session, and the British pound was up to 1.2392 dollars from 1.2357 U.S. dollars in the previous session.
The U.S. dollar bought 139.8380 Japanese yen, lower than 140.3940 Japanese yen of the previous session. The U.S. dollar rose to 0.9062 Swiss francs from 0.9041 Swiss francs, and it rose to 1.3602 Canadian dollars from 1.3593 Canadian dollars. The U.S. dollar rose to 10.8802 Swedish Krona from 10.8185 Swedish Krona.
Get a daily dose of Liverpool Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Liverpool Star.
More InformationBOSTON, Massachusetts: Officials said that a Delta flight from Chicago to Boston that was possibly struck by lightning landed safely ...
JAKARTA, Indonesia: An Indonesian court sentenced Lina Lutfiawati, also known as Lina Mukherjee, to two years in prison this week ...
HONG KONG: The Chinese Foreign Ministry has issued a request to all foreign consulates in Hong Kong, seeking the personal ...
MARTIN COUNTY, Florida: An Amazon driver making a delivery to a Florida home this week was bitten by a rattlesnake ...
CALGARY, Canada: From early 2024, the long-delayed and controversial Canadian government-owned Trans Mountain oil pipeline expansion (TMX) is expected to ...
ISLAMABAD, Pakistan: Pakistan's Supreme Court proceedings were broadcast live on state television on Monday, providing an unprecedented glimpse into the ...
DUBLIN, IRELAND: Ryanair is reducing its winter flight schedule at Dublin Airport, cutting 17 routes, reducing frequency on others, and ...
DUBLIN, Europe: Trinity College Dublin has secured its position among Europe's top academic institutions, clinching the 31st spot in the ...
LONDON, UK: In a deal aimed at securing the future of the British steel industry, the United Kingdom (UK) government ...
New York [US], September 23 (ANI): External Affairs Minister S Jaishankar had a productive and busy day of engagements with ...
(Photo credit: Christopher Hanewinckel-USA TODAY Sports) Clayton Keller collected a goal and an assist to lift the Arizona Coyotes to ...
Vancouver [Canada], September 23 (ANI): Team World finished Day 1 of the Laver Cup with a lead heading into this ...