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Dollar Falls in Longest Streak Since 2011 on Debt-Limit Concern

The dollar fell for a fifth week, the longest stretch since April 2011, as Congress failed to agree on a way to raise the $16.7 trillion U.S. debt limit, spurring investors to seek other assets.

The Bloomberg U.S. Dollar Index traded at almost the lowest level since February as a stalemate between congressional Republicans and Democrats led to a partial government shutdown. The government will run out of borrowing authority Oct. 17, according to the Treasury Department. The euro reached its strongest level against the greenback in eight months as Italy’s government won a confidence vote. An index due out on Oct. 11 may show that U.S. consumer confidence fell this month, according to a Bloomberg survey.