The dollar is poised for its longest streak of daily gains in a year, but Societe Generale SA’s Kit Juckes says a top could be in sight for the currency if a US government shutdown lasts for more than a week or two.
Congress has been unable to forge an agreement to avoid a partial shutdown on Oct. 1, which would cost federal contractors up to $1.9 billion daily in lost and delayed revenue, compounding worries around rising long-term interest rates and still-elevated inflation.
