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Saturday, July 23, 2011

Effect of US debt default on dollar value

Effect of US debt default on dollar value : Other impacts could come due to another crash in the financial markets. Once a default takes place, U.S. debt immediately becomes more expensive to finance. Treasury bond rates would likely skyrocket, and the mortgage rates that are influenced by long-term Treasury rates could also rise. Other interest rates might be affected as well, as dollar-denominated debt in general becomes more expensive..

Asia Not Worried About Possible US Debt Default
‎Other large economies in Asia have significant currency reserves in U.S. dollars. For India, it is more than half of its foreign currency assets. And South Korea has invested nearly two-thirds of its $300 billion worth of reserves in U.S. dollar assets. Read More...

Euro Rallies Versus Dollar as European Summit Eases Region's Debt Turmoil
The euro rose for the first time in three weeks against the dollar and touched a two-week high after European leaders agreed to a new bailout for Greece and expanded the role of the region’s rescue fund. Read More...

Dollar may fall as debt ceiling deadline nears
The U.S. dollar may fall next week on concern the United States may lose its top-notch credit rating with politicians nowhere close to reaching an agreement on lifting the U.S. debt ceiling as an August 2 deadline looms. Read More...

Debt default would mean financial crisis round two
Neither is the case with the US. It borrows in its own currency and at yields of around 3 per cent it is hard to see any risk of default priced into US Treasuries. But without a deal to raise the debt ceiling, the US Government would find itself at least 40c in the dollar short of being able to pay its bills. It runs a deficit of US$125 billion a month. Read More...

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