U.S. dollar slides vs yen, U.S. debt deal remains elusive
WELLINGTON Oct 14 (Reuters) - The U.S. dollar fell broadly early on Monday while the yen gained across the board as investors sold the U.S. currency in favour of the safe-haven yen as a deal to avoid a government default remained elusive ahead of a crucial deadline this week.
The dollar fell to around 98.10 yen from around 98.55 yen late on Friday as U.S. lawmakers made only limited progress on a deal to lift the country's debt ceiling to avert a potentially devastating default.
The yen gained broadly, pushing the euro down to around 132.90 yen, while also gaining against the higher-yielding Australian and New Zealand dollars . The liquid Japanese currency often appreciates during periods of uncertainty.
U.S. Democrats and Republican leaders continued to meet during the weekend to discuss ways to end a partial government shutdown and increase the nation's borrowing authority.
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