Dollar on defensive after dovish Powell, debt ceiling setback
Tue, May 30, 2023 9:02 AM

Dollar on defensive after dovish Powell, debt ceiling setback

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The dollar nursed losses against the yen and euro on Monday following a surprise breakdown in U.S. debt ceiling negotiations and after Fed chair Jerome Powell indicated a preference to slow rate hikes. The greenback slipped 0.15% to 137.715 yen at the start of the week, having snapped a six-day winning streak on Friday and pulling back from a six-month peak. The euro added 0.14% to $1.0822.

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