Dollar falls against franc, yen with no debt deal

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NEW YORK (AP) — The dollar is falling against the Swiss franc and

the Japanese yen after congressional leaders failed to reach a deal

to raise the U.S. debt limit.

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In morning trading Monday in New York, the dollar fell to 0.8040

Swiss franc from 0.8181 Swiss franc late Friday. Earlier it fell to

an all-time low of 0.8018 Swiss franc. The dollar fell to 78.20

Japanese yen from 78.43 yen.

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Investors consider the franc and yen to be safe-haven currencies

and they tend to rise in times of global turmoil.

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Elsewhere, the dollar is edging up against the euro.

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Ratings agency Moody’s further downgraded Greece’s bond ratings and

warned that the country will most likely be considered to be in

default after last week’s new bailout package.

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The euro fell to $1.4338 from $1.4368.

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