Investing.com - The dollar moved higher against the other major currencies on Tuesday amid hopes for a resolution to a political deadlock in the U.S. before the deadline to avoid a U.S. debt default.
During European morning trade, the dollar recovered from two-month lows against the yen, with USD/JPY rising 0.37% to 97.06.
President Barack Obama repeated Monday that he is willing to negotiate with congressional Republicans on a range of topics, including healthcare and energy policy, but only after the government is reopened.
President Obama also called on Congress to raise the government borrowing limit ahead of the October 17 deadline, the date which the Treasury Department has estimated the U.S. could risk a default.
Republican House Speaker John Boehner said Sunday the House will not support bills to fully reopen the government or raise the U.S. debt ceiling unless Democrats agree to talks about spending cuts.
The euro drifted lower against the dollar, with EUR/USD slipping 0.09% to 1.3568.
The pound was also lower against the greenback, with GBP/USD down 0.23% to 1.6058.
The dollar gained ground against the Swiss franc, with USD/CHF climbing 0.27% to 0.9052.
In Switzerland, data showed that retail sales rose 2.4% in August from a year earlier, outstripping expectations for a 1% gain.
A separate report showed that Swiss consumer prices were down 0.1% on a year-over-year basis in September, in line with forecasts.
Elsewhere, the greenback was mixed against its Australian, New Zealand and Canadian counterparts, with AUD/USD easing up 0.17% to 0.9444, NZD/USD dipping 0.04% to 0.8300 and USD/CAD adding 0.16% to trade at 1.0327.
The Australian dollar found support after data released on Tuesday showed that China’s HSBC services purchasing managers’ index dipped to 52.4 from August's reading of 52.8, but remained well above the 50 level that separates expansion from contraction.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.11% to 80.10.
The International Monetary Fund was due to release its latest World Economic Outlook later in the day. In the euro zone, Germany was to publish data on factory orders.
During European morning trade, the dollar recovered from two-month lows against the yen, with USD/JPY rising 0.37% to 97.06.
President Barack Obama repeated Monday that he is willing to negotiate with congressional Republicans on a range of topics, including healthcare and energy policy, but only after the government is reopened.
President Obama also called on Congress to raise the government borrowing limit ahead of the October 17 deadline, the date which the Treasury Department has estimated the U.S. could risk a default.
Republican House Speaker John Boehner said Sunday the House will not support bills to fully reopen the government or raise the U.S. debt ceiling unless Democrats agree to talks about spending cuts.
The euro drifted lower against the dollar, with EUR/USD slipping 0.09% to 1.3568.
The pound was also lower against the greenback, with GBP/USD down 0.23% to 1.6058.
The dollar gained ground against the Swiss franc, with USD/CHF climbing 0.27% to 0.9052.
In Switzerland, data showed that retail sales rose 2.4% in August from a year earlier, outstripping expectations for a 1% gain.
A separate report showed that Swiss consumer prices were down 0.1% on a year-over-year basis in September, in line with forecasts.
Elsewhere, the greenback was mixed against its Australian, New Zealand and Canadian counterparts, with AUD/USD easing up 0.17% to 0.9444, NZD/USD dipping 0.04% to 0.8300 and USD/CAD adding 0.16% to trade at 1.0327.
The Australian dollar found support after data released on Tuesday showed that China’s HSBC services purchasing managers’ index dipped to 52.4 from August's reading of 52.8, but remained well above the 50 level that separates expansion from contraction.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.11% to 80.10.
The International Monetary Fund was due to release its latest World Economic Outlook later in the day. In the euro zone, Germany was to publish data on factory orders.