Investor fears about the gridlock in Washington over raising the US debt ceiling mounted further on Monday as political leaders jousted over competing solutions to avert a possible debt default in August.
The lack of public signs of progress in resolving the debt ceiling impasse between the Republican and Democratic parties cast a shadow over global markets with frustrated investors withdrawing further into haven assets.
The dollar fell to an all-time low against Swiss franc while gold touched a record high. Long-dated US Treasury bonds weakened while global stocks remained under pressure.
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