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Dollar wallows as June Fed bets ebb, debt ceiling deal close
The US dollar fell to a one-week low against major currencies, potentially ending its weakest week since late March, raising the possibility that the Federal Reserve will cancel June's interest rate hike. Consequently, the dollar lost vital support when it became apparent a bill to halt the US's debt ceiling and prevent the country falling in default could soon be made law. The US dollar index, which measures the dollar against six rivals, had lost 0.63% by 2 June and if that trend continues, it will register its worst performance since the week ending 26 March.