Forex
US Dollar Index Tumbles Amid Record-Breaking Debt Ceiling
The US dollar index fell by 0.88% to 98.78 points on August 19, amid growing concerns over the country's debt.
According to reports from Reuters and CNBC, the US Department of the Treasury revealed that government debt has surpassed $40 trillion for the first time.
This development is significant as it raises fears about the impact of escalating interest servicing costs on essential public spending, including social safety programs.
The surge in total debt nearly doubling in less than a decade under the administrations of Donald Trump and Joe Biden heightens risks for US citizens.