Continued Debates over US Debt Push USD to New Lows vs. CHF

12:50 PM // 0 comments // Lonely // Category: Forex Analysis
US DollarThe US dollar reached a new all-time low level against the Swiss franc, while staying strong against the other currencies today, as the US authorities failed to agree on the debt ceiling shift.

With the default looming on the horizon for the world’s biggest economy, the traders seem to prefer the safety of the Swiss franc to the buying power of the US dollar. As the Republicans are still planning to block even the slightest increase in the permitted public debt size (from the current $14.3 trillion), there’s more reason to be short on the USD.

Nevertheless, the greenback rose slightly against the euro, the British pound and the New Zealand, Australian and Canadian dollars. It remains almost unchanged against the Japanese yen (due to a possible intervention by the BoJ).

USD/CHF fell from 0.8133 to 0.8055 as of 8:13 GMT today. EUR/USD went down from 1.4394 to 1.4366.

If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below.

Earlier News About the US Dollar:

    Optimism for Europe Returns, Greenback Suffers (2011-07-20)
    Dollar Rises on Signs of Agreement Among US Lawmakers (2011-07-19)
    S&P Warn About Possible Downgrade of US Rating, USD Down (2011-07-15)
    Dollar Regains Strength as Bernanke Speaks (2011-07-14)
    Dollar Falls as Moody's Reviews US Credit Rating (2011-07-14)


This entry was posted on TopForexNews on Monday, July 25th, 2011 at 8:16 am and is filed under US Dollar. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.