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The Americans have yet to agree on a suitable debt ceiling for the nations, with Democrats and Republicans refusing to budge in the debate.
It has led the dollar index to hit a three-month low of 73.421, reported Reuters, with an unnamed source highlighting how the issue is not the only problem facing the greenback.
"The dollar became even less attractive as, on top of the US fiscal problems, Australian inflation data reminded investors about the higher inflationary environment in Asia's fast-growing markets," they explained.
In contrast, sterling has held firm at around $1.6, which represents a near-six-week high for the UK currency, which was also aided by GDP data showing the nation grew 0.2 per cent in the second quarter of the year.
Posted by Greg Secker
