Franc, Yen Advance on U.S. Debt Impasse, Moody’s Spain Review
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The Swiss franc and yen rose against major counterparts as U.S. lawmakers struggled to resolve the budget deadlock and Moody’s Investors Service said it may cut Spain’s rating, spurring refuge demand.
The dollar erased its gain against the euro, fell to a record versus the Swiss franc and approached a postwar low against the yen as America’s economy grew last quarter less than economists forecast. Canada’s dollar was the worst performer among the most-traded currencies as the nation’s economy unexpectedly contracted in May.