NEW YORK, May 16 (Xinhua) — The U.S. dollar was up in late buying and selling on Tuesday as merchants centered on debt ceiling negotiations.
The dollar index, which measures the buck towards six main friends, was up 0.12 p.c to 102.5606 in late buying and selling.
In late New York buying and selling, the euro was right down to 1.0868 U.S. {dollars} from 1.0874 {dollars} within the earlier session, and the British pound was right down to 1.2486 U.S. {dollars} from 1.2528 {dollars} within the earlier session.
The U.S. dollar purchased 136.3070 Japanese yen, increased than 136.0770 Japanese yen of the earlier session. The U.S. dollar rose to 0.8959 Swiss franc from 0.8949 Swiss franc, and it was unchanged to shut at 1.3469 Canadian {dollars}. The U.S. dollar was as much as 10.4029 Swedish Krona from 10.3432 Swedish Krona.
U.S. Treasury Secretary Janet Yellen on Tuesday warned that “a default would crack open the foundations upon which our financial system is built,” following her reaffirmation that the United States might default on its debt as early as June 1.
U.S. President Joe Biden would minimize quick his journey to Asia this week in order to defuse the looming debt ceiling disaster, in line with media stories on Tuesday.
The U.S. Census Bureau reported Tuesday that the U.S. retail gross sales elevated by 0.4 p.c in April month on month, decrease than the forecast consensus of 0.7 p.c. The month-on-month lower in March was revised to -0.7 p.c from -1 p.c.
The Federal Reserve reported Tuesday that U.S. industrial manufacturing elevated by 0.5 p.c in April month on month, increased than economists’ expectation of an unchanged studying. The development of business manufacturing in March had been revised from 0.4 p.c to zero development.
Meanwhile, the variety of folks claiming for unemployment advantages in Britain elevated by 46,700 in April, increased than 26,500 in March, in line with information issued by the Office for National Statistics of the United Kingdom on Tuesday.