Forex – Dollar Slips Lower on U.S. Government Shutdown

Investing.com – The U.S. dollar slipped lower against other major currencies on Friday, as the U.S. government was pushed into a second shutdown since the beginning of the year after a vote on a budget deal was delayed by Congress.

The midnight deadline to pass the budget deal due to a prolonged speech by Senator Rand Paul, who objected to $300 billion in deficit spending in the bill saying that it would “loot the Treasury.”

U.S. congressional leaders had reached a two-year budget deal on Wednesday to raise government spending by almost $300 billion.

However, the greenback’s losses were limited as U.S. bond yields turned higher again. The yield on benchmark was still hovering near a recent four-year peak on Friday.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.08% at 90.12 by 01:50 a.m. ET (05:50 GMT), off the previous session’s two-and-a-half week high of 90.46.

The euro and the pound were higher, with up 0.12% at 1.2262 and with gaining 0.34% to 1.3959.

The yen was weaker, with up 0.19% at 108.95, while held steady at 0.9368.

Elsewhere, the Australian and New Zealand dollars were almost unchanged, with at 0.7779 and with at 0.7213.

Meanwhile, held steady at 1.2597.