Dollar finds support
Published: 10 Oct at 9 AM Tags: Dollar,
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The debt ceiling and current government shutdown impasse will be addressed by Democrats today, and Republican leaders are due to meet at the White House tomorrow.
The greenback has also been boosted by news that the Federal Reserve’s decision not to taper its massive bond buying programme last month was a close call. According to minutes from the meeting, most Fed leaders support reining in the easy money policy by the end of the year.
A positive decision by President Obama to push Janet Yellen as next leader of the Fed also appears to have eased the pressure on the dollar, because it is a decision at a time where few concrete decisions are being made.
Elsewhere, a drop in industrial output in the UK has put pressure on the pound. Sterling is currently trading at $1.5957 having earlier lost 0.8 per cent to $1.5917. The Australian dollar is holding firm ahead of payroll data at $0.9448.