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Forex: Monday's review
The US dollar falls against a basket of rival currencies as U.S. lawmakers failed to agree on raising the nation’s $14.3 trillion debt ceiling and Greece’s credit rating was cut.
The euro bounces back after its drop amid investors are in a gloomy mood after Moody's Investors Service cuts Greece's credit rating three notches to Ca, their second lowest rating, from Caa1 and assigned a developing outlook to the ratings.
Canada’s dollar is at the highest level since November 2007 as investors sought shelter after U.S. lawmakers failed to find consensus on raising the nation’s $14.3 trillion debt ceiling. The loonie capped a second-straight weekly gain on July 22 on speculation the nation’s central bank will raise interest rates at least once this year.
Switzerland’s franc strengthened to a record against the dollar on demand for the safest assets amid U.S. debt ceiling talks and downgrade of Greece
The yen retreats from today’s advance against 15 of 16 major peers, including US dolar.
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