US Dollar Could Fall Further on Debt Ceiling Impasse, Nonfarm Payrolls
The Dow Jones Industrial Average fell 4.2 percent and the Dow Jones FXCM Dollar Index shed 1.2 percent on a tense week for financial markets as the August 2 US Debt ceiling deadline looms large. Traders continue to show real fear that the US Congress and President could fail to pass an extension of the debt ceiling before the country runs short of funds and becomes insolvent. Volatility is virtually guaranteed on a contentious week of trading given US Debt Ceiling threats and an end-of-week US Nonfarm Payrolls report.
