After staying in an upward trend since the beginning of the day, the US dollar starts the session this Wednesday, May 24, with a slight fall, losing ground to several currencies globally.
The fall occurs as the financial market awaits the disclosure of the minutes of the May meeting of the Federal Reserve United States (Fed). Added to this, The lack of a deal to raise the US debt ceiling has also been a key factor in the greenback’s decline.
Proceedings of the Fed
This same Wednesday afternoon, the Central Bank will announce the minutes of the May meeting, same as they will toast a clearer picture to the merchants on the future of the cycle of increases in interest rates.
Lately, the market had been optimistic about a break on the upside; however, following aggressive statements by St. Louis Fed President James Bullard, about making two more hikes in interest rates this year of 25 basis points; hopes of a break are over.
debt ceiling
Regarding the debt ceiling, negotiations to raise it continue between the White House and Congress. The country has up to June 1 to reach a bipartisan agreement, otherwise the nation would enter its first default, which would unleash fears of a possible recession in the country; this is what the secretary of the American Treasury, Janet Yellen, has warned.
You may also be interested in: Why are Wells Fargo and Bank of America closing their bank locations across the United States?
Dollar price today, May 24: Exchange rates in Mexico, Honduras, Guatemala, Nicaragua… — Memesita
Categories: Economic History
The Fourth Estate 
Leave a Reply