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Dollar rises on upcoming budget talks

Dunya News

Uncertainty about next budget battle in Washington is pushed dollar higher against other currencies.

 

Although Congress approved a budget deal this week, negotiations on the debt ceiling and spending cuts still need to happen.

 

The dollar is considered a safe haven currency and tends to rise when traders are nervous about the economy.

 

The euro fell to $1.3109 in Thursday afternoon trading from $1.3178 late Wednesday.

 

The British pound fell to $1.6147 from $1.6251.

 

The dollar rose to 0.9235 Swiss franc from 0.9185 Swiss franc.

 

The dollar fell to 87 Japanese yen from 87.14 Japanese yen.