The dollar stages a mini-comeback on debt-ceiling worries even as the Fed prepares to wind down its war on inflation
– climbed over 2% in the space of two weeks, meaning the currency is now down just 0.1% year-to-date.
Over 70% of traders believe that the central bank has made its final rate hike of this cycle, according to– and when borrowing costs stop rising, a currency typically becomes less attractive to foreign investors who can find higher yields elsewhere. While most investors believe that the two sides will come to an 11th-hour compromise as they did back in 2011, the specter of a disastrous default has– and that's a boost for the dollar's"safe-haven" appeal.
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