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    Senior Member JohnDoe2's Avatar
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    Dollar Rises Against Euro, Yen, Franc on Debt Deal

    Dollar Rises Against Euro, Yen, Franc as Reid Signs Off on Debt Agreement

    By Masaki Kondo and Candice Zachariahs - Jul 31, 2011 4:35 PM PT .

    Japanese yen notes and U.S. dollar notes are arranged for a photograph in Tokyo. Photographer: Tomohiro Ohsumi/Bloomberg
    .
    The dollar rallied on signs U.S. lawmakers will reach an agreement on raising the debt ceiling one day before the Treasury Department said it will run out of cash to pay its bills.

    The U.S. currency climbed versus the euro, yen and Swiss franc after Senate Majority Leader Harry Reid’s office said he signed off on a proposed deal, pending approval of fellow Senate Democrats. The New Zealand dollar reached a record high against the greenback as prospects for a debt accord boosted demand for higher-yielding assets.

    “We are seeing progress being made, raising expectations for some kind of agreement,â€
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    Senior Member JohnDoe2's Avatar
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    Gold Plunges as Reid Signs Off on Deal
    S&P Surges


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