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House Speaker Kevin McCarthy (R-CA) sits for debt limit talks with U.S. President Joe Biden in the Oval Office at the White House in Washington, U.S., May 22, 2023. REUTERS/Leah Millis/File PhotoNEW YORK, June 2 (Reuters) - While a U.S. default on its debt has been averted, the possibility of another credit rating downgrade remains, as 11th-hour debt ceiling negotiations have become an almost regular feature in recent U.S. history.The U.S. Senate on Thursday passed bipartisan legislation backed by President Joe Biden that lifts the government's $31.4 trillion debt ceiling,...

June 1 (Reuters) - The dollar was on track for its worst daily loss in nearly a month on Thursday as U.S. manufacturing data and comments by Federal Reserve officials reinforced expectations the Federal Reserve will likely skip an interest rate hike at its upcoming meeting.The euro recovered from a two-month low on Thursday after European Central Bank (ECB) President Christine Lagarde said further policy tightening was necessary.The dollar index , which measures the currency against a basket of six peers, fell 0.547% at 103.580, off a two-month high of...