NEW YORK, Sept. 28 (Xinhua) — The U.S. dollar declined in late trading on Thursday as the U.S. Senate moved forward with plans for a temporary funding agreement anticipated to face opposition from House Republicans.
The dollar index, which measures the greenback against six major peers, dropped 0.41 percent to 106.2268 during late trading.
The U.S. Congress has until midnight on Saturday to pass a new budget. However, House Speaker Kevin McCarthy expressed optimism, stating that there is still time for a late agreement. He said, “I wake up every day optimistic. I’d say put your money on me. We will get this done.”
In terms of economic data, the U.S. government released its third estimate of gross domestic product (GDP) for the April-June period, reporting an unrevised 2.1 percent annualized rate of growth last quarter.
Chicago Fed President Austan Goolsbee cautioned that the U.S. Federal Reserve may be on the verge of achieving something rare, which is lowering inflation without causing significant harm to jobs and growth. He emphasized the importance of carefully considering past inflation battles when determining future policy actions.
During late New York trading, the euro advanced to 1.0553 U.S. dollars compared to 1.0508 dollars in the previous session. Similarly, the British pound increased to 1.2196 U.S. dollars from 1.2137 dollars.
The U.S. dollar weakened against the Japanese yen, falling to 149.2380 yen from 149.5950 yen in the previous session. It also declined against the Swiss franc, dropping to 0.9162 francs from 0.9208 francs. Additionally, the U.S. dollar slipped to 1.3500 Canadian dollars from 1.3510 Canadian dollars, and it decreased to 10.9344 Swedish krona from 11.0471 Swedish krona.
Credit: The Star : News Feed
