Dollar Drops on Political Impasse; Volatility Falls

The dollar fell versus 11 of its 16 most-traded counterparts as U.S. lawmakers struggled to resolve a political impasse over raising the nation’s debt limit and ending a partial shutdown of the government.

The greenback erased its first loss in five days versus the yen after President Barack Obama summoned congressional leaders to the White House and Democratic and Republican Senate leaders said they’re optimistic about reaching an agreement. New Zealand’s dollar gained after data showed home prices rose to a record. A measure of volatility among Group of Seven nations’ currencies fell to the lowest since January.