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Supercommittee Fails, Dollar Hovers Near Six-Week High

The not so supercommittee's failure weighs, but the euro catches an updraft - it's time for your FX Fix.

The dollar hovered near a six-week high after the deficit supercommittee failed to reach a deal. [Reuters]

Standard & Poor's and Moody's affirmed their U.S. debt ratings after the deficit supercommittee's failure, but Fitch still has its U.S. rating under review. [Reuters]

Even though Spanish bond yields rose, underscoring investor fears, the euro lifted after several sessions of falling equities. [FT]

The European Commission will ask for powers to make sure euro zone economies do not break European Union budget rules. [Reuters]

The Australian dollar fell, along with several other Asian currencies, after the deficit supercommittee failed to reach a deal. [WSJ]

Concerns about the British economy drove the pound lower. [economynews-co.uk]

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