The US dollar is retreating from its highest level in five weeks
The US dollar fell against the major currencies from its highest level in five weeks, as the main dollar index, which measures the performance of the US currency against 6 major currencies, declined by 0.3%, to 102.40. T
he data showed that the Empire State Industrial Index in New York fell to -31.8 points in May, compared to 10.8 points in April, the lowest level since April 2020.
US House of Representatives Speaker Kevin McCarthy warned that there was no move towards an agreement to raise the debt ceiling of $31.4 trillion in talks with the White House, warning that time is running out to reach an agreement. The euro rose against the US dollar by 0.2% to $1.087, the dollar rose against the Japanese yen by 0.3% to 136.06 yen, while the pound sterling rose against the US dollar by 0.7% to $1.2527.
