Bloomberg reports the monetary unit of the globe's largest economy is poised to continue losing value. IHS Inc. states daily production is likely to drop by at least $300 million per day. From the middle of September, the U.S. dollar has lost roughly 0.9 percent and as the shutdown continues, losses are set to mount.
"There is a false sense of complacency among some in the market that somehow things will be always solved at midnight," director Gene Sperling with President Barack Obama's National Economic Council told Bloomberg on Tuesday.
Political leaders in the U.S. also are tasked with conducting negotiations regarding the debt ceiling debate in the middle of this month. Some analysts are growing increasingly concerned about debt ceiling and shutdown negotiations intertwining.
A private sector jobs report also was proving to be harmful to the world's reserve currency during the Wednesday trade session, according to Reuters. Markets already were less-than-bright as traders and investors struggled with shutdown circumstances.
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