USD Slumps as Risk of Downgrade Increases

Little progress in the US was seen as the deadline to raise the debt ceiling approaches. The US dollar was exceptionally weak, plunging to a record low against the Swiss franc as risk of a downgrade escalated. Gold continued its long-term uptrend and ended the day at 1616.8, up +0.28%, amid safe-haven demand. Price climbed to a new all-time high of 1624.5 in Asia today. Oil prices traded with great volatility but small volume, slumping in early US session but then rebounding on weak USD.

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USD Slumps as Risk of Downgrade Increases