Dollar Trades at Almost Month Low Versus Yen on Shutdown
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The dollar traded at almost a one-month low against the yen as a partial shutdown of the U.S. government delayed a jobs report, clouding the outlook for when the Federal Reserve may reduce stimulus.
The Bloomberg U.S. Dollar Index reached the lowest level in two weeks as Atlanta Fed President Dennis Lockhart said the shortage of economic news “would tend to make me somewhat more cautious” about reducing the pace of bond purchases. Lawmakers also need to agree on raising the debt limit. The pound fell against most its 16 major counterparts on speculation recent gains were excessive. Australia’s dollar rose on bets the central bank will refrain from cutting interest rates.