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Dollar Price Today: What The Exchange Rate In Honduras Mexico On May 19

Dollar Price Today: What The exchange Rate In Honduras Mexico On May 19

The dollar’s position weakened due to stalled talks on the US debt ceiling and uncertainty regarding potential deals to avoid economic consequences. Treasury Secretary Yellen was notified on June 1 about the risk of a US debt default. 

However, negotiations between Yellen and Rep. Garrett Graves on raising the debt have been paused. The negotiation stated that the conversation was unreasonable, and it was unclear when they would resume. 

Federal Reserve President Jerome Powell’s comments also cause the dollar rate falls. Powell also indicated at a Fed conference in Washington that Fed is likely to refrain from a hike in its benchmark interest rate at its next meeting in June and also suggested easing the monetary policy. 

Regarding the exchange rates on May 19, the dollar index (DXY) recorded a fall of 0.52%, settling at 102.912 units, which measures the dollar’s value relative to six major currencies.

Uncertainty surrounding the debt ceiling negotiations is the major cause of the weakening of the US dollar rate; when uncertainty affects the financial stability of a country, Investors may be cautious and seek safer assets, affecting the value of the country’s currency. 

It is important to note that exchange rates should be checked throughout the day, specifically the specific exchange rates for countries such as Honduras, Mexico, and Guatemala, because of very rapid fluctuations.

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