Reuters: US Dollar Report: FOREX-Dollar falls vs yen as U.S. debt talks sputter

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Make fitness a way of life Sign up at a 24 Hour Fitness near you for a 7 day free trial. Join a class and find a community! From our sponsors

FOREX-Dollar falls vs yen as U.S. debt talks sputter Oct 15th 2013, 20:06 Tweet Share this Email Print Reprints Tue Oct 15, 2013 4:06pm EDT * Sen. Durbin says U.S. Senate talks suspended * Markets eye looming deadline on Oct. 17 * Dollar hits session low vs yen By Gertrude Chavez-Dreyfuss NEW YORK, Oct 15 (Reuters) - The dollar dropped to session lows against the yen on Tuesday as talks on raising the U.S. debt ceiling floundered, bringing the world's largest economy closer to potentially defaulting on its debt obligations. The Senate halted discussions on its own plan and is waiting for the Republican-controlled House of Representatives to come up with an alternative proposal before Thursday, when the U.S. Treasury says the government will reach its borrowing limit. Senator Richard Durbin, the second-ranking Democrat in the Senate, said Senate Republican leader Mitch McConnell would have to wait for some signal on the next steps from House Speaker John Boehner before he takes any further moves. Many in the market have expressed frustration about the fiscal drama in Washington. "In order for Congress to get to the finish line, both the Senate and House have to sign the bill and with 2 days to go before the U.S. reaches its borrowing limit, it is still not clear if conservative House Republicans will support the bill," said Kathy Lien, managing director at BK Asset Management in New York. The dollar fell to session lows against the yen at 98.13 yen following Durbin's comments. Earlier, it hit a two-week high of 98.72 and was last at 98.41, down 0.2 percent. The dollar also dropped to the day's low versus the euro, which rose to session highs of $1.3531. The euro, however, was still down on the day, falling 0.3 percent to $1.3518. ------------------------------------------------------------ Treasury bill maturing Oct. 31 seen as at-risk of missed payment due to debt limit crisis.------------------------------------------------------------ Yields on two-year Treasury notes issued nearly two years ago and maturing on Oct. 31 rose to just over 0.7 percent from near zero percent. Prompt payment of the principal due on Oct. 31 was seen at risk due to the potential failure to raise the U.S. debt limit. Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions