TOKYO – The dollar pushed to a two-month peak against a basket of its peers on Thursday as worries mounted about a disastrous U.S. default after ratings company Fitch put the United States' 'AAA' debt ratings on negative watch. The greenback has paradoxically benefited from demand for safe havens with only a week left for a resolution to slow-moving debt ceiling talks before the June 1 'X-date', when the Treasury has warned it will be unable to pay all its bills. The U.S. currency has also benefited from a paring of bets for Federal Reserve rate cuts this year, with the economy proving resilient to the effects of the central bank's aggressive tightening campaign until now.

https://business.inquirer.net/402617/dollar-gains-after-fitch-watch-heightens-debt-ceiling-jitters

#inquirer