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Dollar rises on budget deal worries | Updated: 8:52:34 AM, Sunday December 23, 2012

The US dollar has risen against most major currencies as budget talks stall in Washington.

House Republicans have called off a vote on tax rates, and if lawmakers don’t reach a deal on reducing the budget deficit, steep tax increases and government spending cuts will take effect at the beginning of next year.

Traders tend to buy safer currencies, such as the dollar, when they are concerned about the economy.

The euro fell to $US1.3176 ($A1.2661) late on Friday from $1.3241 late on Thursday. The euro is up just half a per cent against the dollar for the week.

The British pound fell to $1.6160 from $1.6284.

The dollar rose to 0.9168 Swiss francs from 0.9119 francs and to 99.41 Canadian cents from 98.74 cents.

The dollar fell to 84.23 Japanese yen from 84.42 yen.



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