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MarketWatch (04/10) NEW YORK —
The dollar hit an eight-month low against the euro on Thursday as
investors grew more concerned about the economic effects of a prolonged
shutdown and debt-ceiling debate.
A
failure to raise the debt limit by Oct. 17 could lead to a financial
crisis worse than the one in 2008, the Treasury Department said
Thursday. Separately, the Labor Department said the jobs report won’t be
released Friday because of a lapse of funding.
 That
makes it even more likely that the Federal Reserve will hold monetary
policy steady at its October meeting, since the central bank closely
watches labor-market data in making its decision. The Fed’s current bond
purchases of $85 billion a month are understood to weigh on the U.S.
dollar.
The
ICE dollar index, a measure of the greenback’s strength against six
other currencies, edged down to 79.737 from 79.875 late Wednesday, on
track to decline for the fifth straight session. The WSJ Dollar Index, a
gauge of dollar strength against a broader basket of rivals, declined
to 72.23 from 72.32.
Growth
slowed in the U.S. services sector in September, with the Institute for
Supply Management’s services index falling to a reading of 54.4% from
58.6% in August. Also on Thursday, U.S. weekly jobless claims inched up
by 1,000 to 308,000 in the week ended Sept. 28. Economists had expected
an increase to a seasonally adjusted 313,000, according to a MarketWatch
survey.
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