Forex- Dollar Inches Up Amid Government Shutdown Fears


© Reuters. The dollar inched forward on Friday.

Investing.com – The U.S. dollar inched up against other major currencies on Friday, but was held back amid fears of a potential government shutdown.

Congress has until 12:00 AM ET (5:00 GMT) to pass a spending bill before the government shuts down. The House of Representatives voted 230-197 on Thursday night for a bill to extend expiring funding through Feb. 16 but .

The dollar was also affected by the fact that the yield on the U.S. 10-year Treasury hit its highest level since 2014.

The dollar has been pressured lower in recent sessions amid concerns the global economic recovery will outpace U.S. growth and prompt other major central banks, including the European Central Bank to begin unwinding loose monetary policy at a faster pace.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.06% to 90.36 by 11:44 AM ET (16:44 GMT), off a three-year low of 89.96 hit earlier in the session.

The euro eased, with down 0.01% at 1.2237. Sterling turned lower after data on Friday showed that . slipped 0.33% to 1.3851, off session highs of 1.3945.

The yen was still stronger, with down 0.42% at 110.63,

Elsewhere, the Australian dollar remained higher, with up 0.01% at 0.8000, while shed 0.23% to 0.7282.

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