Category: Commodities and Currencies

US Dollar Plunges After Major Sell-off

The U.S. dipped to its record low against the Swiss franc as investors around the world continue to anticipate the outcome of talks aimed at averting a U.S. default.

With the talks between U.S. lawmakers on a plan to raise the government’s $14.3 trillion debt ceiling before an August 2 deadline stalled, the dollar slid to a three-month low versus a currency basket with more falls seen likely if no deal is reached.